[Analysis] "Increase in Binance Futures Buy Volume Suggests Bitcoin Price Rise"

An analysis suggests that the increase in futures buy volume on the global cryptocurrency exchange Binance indicates a rise in the price of Bitcoin (BTC).

On the 27th, an analyst from the on-chain data analysis platform CryptoQuant, 'burakkesmeci', stated, "Over the past 60 days, the market buy volume on Binance has been forming increasingly higher lows. This indicates that the buying pressure from futures investors is increasing."

He added, "The market has been overheating recently, experiencing corrections. However, the continuous increase in futures market buy volume suggests the possibility of a Bitcoin price rise in the coming days."

Meanwhile, on this day, Bitcoin is trading at around $96,800, down 4% from the previous day, based on the Binance Tether (USDT) market.