Key takeaways:
Bitcoin futures open interest hit a record $72 billion, signaling rising use of leverage among institutional investors.
$1.2 billion in shorts at $107,000 to $108,000 are at risk of liquidation, boosting BTC’s breakout odds.
The aggregate open interest in Bitcoin (BTC) futures surged to a record high on May 20, raising questions about whether bearish positions are now at risk. Despite repeated failures to break above the $107,000 level since May 18, the sheer volume of leveraged positions could propel Bitcoin to a new all-time high.
Bitcoin futures aggregate open interest, USD. Source: CoinGlass
The total open interest in BTC futures climbed to $72 billion on May 20, marking an 8% increase from $66.6 billion just a week earlier. Institutional demand continues to be a major driver of this leverage, with the Chicago Mercantile Exchange (CME) leading at $16.9 billion in BTC futures, followed by Binance, which