Bitcoin FOMO Hits Record High—Investors Actually Confident, Shockingly!

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What’s up, crypto fans? 🙂

  • Bitcoin and ether decided to finally get their act together with some juicy price gains after the U.S. and China played nice—well, kind of. 🇺🇸🤝🇨🇳
  • Perpetual futures open interest shot up, which basically means investors are feeling optimistic enough to put their money where their mouth is. Or maybe just their eyeballs. 👀💸
  • Funding rates went positive, so traders are willingly paying fees just to keep betting the bull won’t get trampled. Brave or crazy? You decide. 🐂💰

So picture this: Bitcoin (BTC) and ether (ETH) finally decided to throw a rally party Tuesday with prices leaping higher as the Trump team toned down the tariff tantrums and even poked the Fed’s Jerome Powell with a not-so-threatening stick. No firing today, guys—relax. 🎉📈

BTC, your top dog cryptocurrency, zoomed up 6.79% flirting dangerously close to the $94,000 mark, a scene not seen since March. Meanwhile, ethereum’s ether token showed off with an 11% leap to $1,175, its best curtain call since early April. Not bad for a Tuesday! 😂

Of course, this drama unfolded just as Treasury Secretary Scott Bessent started whispering sweet nothings about easing U.S.-China trade tensions. Trump, being Trump, then announced tariffs would drop from the embarrassingly high 245%—which sounds like a typo but unfortunately isn’t. Oh, and no plan to can Powell. Phew! 😅

The real kicker? Traders rushed into offshore exchanges like Binance, Bybit, OKX, and Deribit, plus the funky decentralized exchange Hyperliquid, piling into perpetual futures faster than you can say “hodl.” Open interest? Up a spicy 10% to $17.83 billion, the biggest leap since early March when Trump dabbled with digital asset reserves. Because why not? 🤷‍♀️💥

Joao Wedson, CEO of Alphractal Research, spilled the tea on X, saying, “Bitcoin’s Open Interest surged faster than its Price, mostly on Binance. But heads up: lots of longs, so hold tight—volatility’s coming hotter than your morning coffee.” ☕🔥

Apparently, short sellers got squeezed harder than your not-so-favorite jeans after lockdown, unwinding their bets and sending prices soaring. Funding rates flipped from moody negative vibes to positive, signaling the bulls are back to partying. 🐻➡️🐂

And ether? Its open interest jumped a cheeky 16% to $6.6 billion, breaking its biggest single-day record since last November. Looks like ETH just ate its greens and hit the gym. 💪🍃

Price up + open interest up = bullish vibes confirmed. Translation: BTC and ETH might actually keep climbing, so maybe hold off on those “I sold all my crypto” tweets for now. 🤞🚀

Funding Rates Got the Bulls Buzzing

Funding rates, the sneaky little fees traders pay every 8 hours to keep their perpetual bets in line, are cozily sitting between 5% and 10% annualized for both BTC and ETH. Basically, traders are paying up to stay bullish—and that’s usually a pretty decent sign. 🤑

If funding rates get too cray-high? Say hello to overcrowding and wild speculation. But nope, we’re not there yet—just your friendly neighborhood market warming up for the next act. 🎭

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2025-04-23 12:17