Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-sets-new-record-with-surge-in-open-positions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Sets New Record with Surge in Open Positions</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/binance-to-remove-five-trading-pairs-for-enhanced-user-protection/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, the cryptocurrency exchange, has reached a new record in open positions, surpassing $8.3 billion in crypto derivatives. This surge aligns with a sharp increase in Bitcoin prices, which reached a historic peak following Donald Trump’s victory in the U.S. presidential elections.</p>
<h2 style="text-align: justify" id="volume-increases">Volume Increases</h2>
<p style="text-align: justify">According to CryptoQuant data, Binance’s open positions in crypto derivatives rose by 10.24% within 24 hours, reaching $8.3 billion. This increase has elevated Binance’s share of global crypto futures open positions to 35%.</p>
<p style="text-align: justify">Bitcoin’s new all-time high of $76,000 led to the liquidation of open positions on major exchanges. Liquidated short positions exceeded $370 million, while the total liquidation volume approached $580 million.</p>
<h2 style="text-align: justify" id="bnb-price-predictions">BNB Price Predictions</h2>
<p style="text-align: justify">The record levels of open positions on Binance indicate potential for an increase in <a href="https://en.coin-turk.com/bitcoin-price-struggles-below-60000-affect-altcoin-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB</a> prices. The recent “cup and handle” formation observed in BNB charts suggests a possible upward breakout. Experts identify the $700 level as a significant resistance point, which could be surpassed if the current trend persists.</p>
<p style="text-align: justify">In the past 24 hours, the BNB price increased by 4.6%, reaching $588. Trading volume surged by 46.55% to $2.26 billion, pushing BNB’s market capitalization above $84.12 billion.</p>
<p style="text-align: justify">These developments indicate that Binance is strengthening its market impact, contributing to a more active overall <a href="https://en.coin-turk.com/weekly-crypto-investor-insights/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a>. At the time of writing, Bitcoin has risen to $76,400, further extending its record price. Following Trump’s election, BTC may soon approach the $80,000 mark.</p>
<p style="text-align: justify">In conclusion, the record increase in Binance’s open positions could positively influence both BNB prices and the broader cryptocurrency market. Market participants should closely monitor future trends with Binance’s growing market share.</p>
<p>The post <a href="https://en.coin-turk.com/binance-sets-new-record-with-surge-in-open-positions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Sets New Record with Surge in Open Positions</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Binance Sets New Record with Surge in Open Positions

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