#BitcoinRally

Bitcoin’s rally to a new all-time high of $111,620 on May 22 was followed by a surge in futures activity, with total open interest (OI) across exchanges reaching $80.91 billion, the highest ever recorded.

May 22 OI represents a $6.66 billion increase over the past 24 hours and caps off a five-day climb that added over $15 billion in futures exposure since May 18.

Such a significant expansion in open interest shows an increase in participation from both institutional and retail traders, with leveraged positions across the market rising in tandem with Bitcoin’s price.

On Binance, the largest derivatives venue by volume, OI hit $13.60 billion, the highest since Dec. 16, 2024. This shows a clear resurgence of speculative positioning on the exchange, which had seen a decline in activity throughout March and April.