Bitcoin Futures Drive 90% of Binance Spot-and-Futures Volume
Binance’s Bitcoin open interest fell from $10.6 billion to $9.2 billion over the past week as spot demand remained weak.
Bitcoin (BTC) trading on Binance is being driven mainly by futures, while weak spot demand could leave the recent rebound unstable.
Futures represented roughly 90% of Binance’s Bitcoin spot-and-futures trading volume, based on a spot-to-futures volume ratio of about 0.12.
Bitcoin open interest on the exchange fell from $10.6 billion to $9.2 billion over the past week. The decline did not improve the balance between spot and futures activity because demand for immediate Bitcoin purchases remained subdued.
The trading mix indicates that futures activity is supporting the rebound while spot buying has not followed. Without stronger spot demand, the rebound may become unstable.
