Total Bitcoin futures open interest jumped over 8% in 24 hours, crossing $62 billion, according to data from CoinGlass. That kind of movement in the derivatives market signals traders are positioning for further upside, not just reacting to a short-term bounce.
The ceasefire between the US and Iran had already been extended by three to five days before these latest signals emerged.
Iran’s Position Remains UnclearBut the picture on Iran’s side is far from settled. According to the Tasnim news agency, Iran had no current plans to negotiate on Friday — a direct contradiction of Trump’s stated expectations.
Iranian Supreme Leader Mojtaba Khamenei has not been communicating directly, and a divide between IRGC generals and Iran’s civilian negotiators is adding to the uncertainty.
Trump’s negotiators, based on reports, are now unsure whether there are reliable partners on the Iranian side to move a deal forward.
Bitcoin Volume Data Raises CautionDespite the $80K target drawing attention again, thin volume means the move could reverse quickly if the geopolitical situation shifts.
Featured image from Pexels, chart from TradingView
