Binance witnessed a significant surge in Bitcoin open interest (OI), jumping by 15.8% to reach $8.8 billion, indicating heightened market activity and trader engagement. This spike coincides with Bitcoin’s price breaking through the 50-day SMA, presenting an upcoming challenge at the 200-day SMA. Leading in crypto derivatives trading, Binance holds a commanding 31.4% share of the $28 billion OI capital. A large jump in OI might signify bullish sentiment or trigger unexpected market shifts. 📈 However, this rapid rise raises concerns about potential market volatility due to high leverage and the risk of significant liquidations affecting both long and short positions. The surge is likely driven by excessive leverage, posing a considerable challenge for short-term traders who may be exposed to sudden price fluctuations.