As Bitcoin pushed past $111,000 on May 22, breaking its previous all-time high, activity in the futures market erupted in response.
Total open interest (OI) on BTC futures hit an unprecedented $80.91 billion, reflecting a flood of leveraged capital and heightened market engagement.
This latest jump added more than $6.6 billion in just 24 hours and capped a five-day run that saw futures exposure swell by over $15 billion. The rapid growth in OI points to a surge of new positions—many likely driven by traders chasing momentum as Bitcoin rallied from $103,500 to over $111,000 in under a week.
Among the exchanges, Binance saw a sharp uptick in futures exposure, with OI climbing to $13.6 billion, its highest level since December. This signals a strong return of speculative appetite on the platform after a relatively quiet March and April.
Notably, the pace of OI growth has outstripped Bitcoin’s spot price gains, suggesting an influx of leveraged trades. While this underlines bullish conviction, it also raises the stakes. High leverage paired with a crowded market increases the risk of sudden liquidations if prices reverse sharply.
With BTC now hovering above a critical threshold, the next move may depend on whether buyers can sustain momentum—or if the weight of leveraged bets triggers a sharp unwind.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.
Bitcoin’s market signal has officially shifted back into a low-risk phase, according to a new chart shared by Bitcoin Vector in collaboration with Glassnode and Swissblock.