Binance News: Bitcoin Price Surges Above $88,000, Eyes $110K as Open Interest and ETF Inflows Increase

BTC Price Eyes $110K Amid Trump Tariffs, ETFs, and Fed Support

Bitcoin (BTC) price extended its recovery Monday, climbing above $88,000. The rally followed last week’s 4.25% rebound and came as open interest surged and ETF inflows returned. According to CryptoQuant, total open interest crossed $32 Billion, while CoinGlass reported a $614.6 Million jump in BTC-USDT futures on Binance during early trading. BitMEX co-founder Arthur Hayes predicted that Bitcoin could reach $110K but warned of potential retracement.

The Fallout from Elon Musk’s Political Choices

Elon Musk’s recent ventures into high-profile political positions have cost Tesla dearly. His role in the Trump administration’s Department of Government Efficiency (DOGE) and various endorsements have contributed to the decline in Tesla’s market cap. It remains to be seen what impact this will have on Musk’s other ventures and the broader cryptocurrency market.