Bitcoin's price surged over the weekend, surpassing $63,000—an increase of 5.6%. This rally is attributed to three factors: mysterious whale activity in the Binance perpetual futures market, increased open interest in futures markets, and a technical breakout signaling market momentum. Popular analysts noted significant buying activity, relationship between open interest and price, and a technical reversal from a descending trendline. Despite modest short liquidations, these combined elements potentially signify a bullish trend for Bitcoin.
