Bitcoin Buyers Surge 147,000 Jobs Report Boosts Price 110,000 Zone

Binance’s net taker volume exceeded $100 million as Bitcoin buyers increased their positions ahead of a stronger-than-expected U.S. jobs report. This surge in volume indicates a significant influx of institutional and retail investors, who are showing strong conviction in Bitcoin despite recent price volatility. The U.S. Non-Farm Payrolls data, which showed an increase of 147,000 jobs, exceeded predictions of 111,000 and the previous month's 144,000. This data release was seen as dovish by traders, leading to aggressive long positions and a subsequent rise in Bitcoin's price, which approached the $110,000 zone.

Binance continues to dominate the Bitcoin open interest market, holding 29.93% of the total open interest across all major exchanges. This dominance is reflected in the exchange's total Bitcoin open interest, which has climbed from $4.2 billion in January to $9.8 billion this month. Bybit and Gate.io follow with 20.54% and 21.93% respectively, while OKX and HTX round out the top five. This trend highlights Binance's role as a central venue for directional plays during key market inflections, with volume spikes and price swings consistently correlating with elevated positioning on the exchange.

Bitcoin's long-term holders, defined as those holding for 155 days or more, now control over 14.5 million BTC, the highest ever recorded. This marks a historic shift in conviction, as long-term supply typically drops during major rallies. However, this cycle is defying that behavior, with long-term supply rising despite volatility. From early 2024 to now, long-term supply has crossed the 14 million mark and is trending upward. This sharp accumulation contrasts with prior cycles where distribution followed each major price spike, confirming that long-horizon wallets remain unfazed and are reducing immediate supply pressure as demand accelerates.