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A Record Broken in Bitcoin After the US-China: Everywhere is Filled with Bullish Signals! - Coin Bulletin
As Bitcoin and Ethereum prices rise, open positions in futures trading hit a record high, and the market is filled with bull signals.
Signs of commercial easing between America and China and statements regarding Powell’s continuation in office have created a veritable spring atmosphere in the cryptocurrency market. The price of Bitcoin (BTC) approached the $94,000 mark with a 6.79% increase in a day, while Ethereum (ETH) reached the $1,175 level with an 11% jump. This price increase was also supported by the rise in open positions in the futures market (open interest).
Data from leading platforms clearly showed investors' confidence in the upward trend. The open position volume in BTC perpetual futures rose by 10 percent to 17.83 billion dollars in one day. In ETH futures, the growth rate reached 16 percent, with a total open position value of 6.6 billion dollars. This increase highlights not only the prices but also the risk appetite of market players.
Funding rates support the rise
Market direction hints do not only come from prices or position volumes. Funding rates in perpetual contracts also underline the bull market. Currently, positive funding rates ranging from 5 to 10 percent annually are observed for BTC and ETH. These rates indicate that investors in long positions are more dominant compared to short positions and are willing to pay fees to maintain these positions.
Trump effect: Trade easing and Powell message
The positive statements from politics drew attention behind the rise. US Treasury Secretary Scott Bessent announced that trade tensions with China would decrease. President Donald Trump also stated that they would reduce the 245% tariff on Chinese goods and conveyed a clear message of confidence to the market by announcing that they would not dismiss Fed Chairman Jerome Powell.