TL;DR
Bitcoin reached a new all-time high of $111,620 on May 22, pushing open interest in futures to a record $80.41 billion.
CME leads institutional activity with over $18.23 billion in contracts.
Binance and Bitget show strong momentum, reflecting a bullish market driven by both retail traders and large investors.
On May 22, Bitcoin shattered previous expectations by reaching a historic high of $111,620, unleashing an unprecedented wave of activity in the derivatives market. According to Coinglass data, open interest (OI) in Bitcoin futures soared to 723,150 BTC, valued at $80.41 billion, the highest figure ever recorded. This surge not only signals a new phase in the crypto market but also reflects strong investor confidence and euphoria among both institutional and retail participants.
In just five days, from May 18 to May 22, open interest in futures rose by more than $15 billion, a 23% increase, while Bitcoin’s price climbed nearly 8%. This divergence suggests a substantial influx of leveraged capital, especially from momentum traders looking to ride the bullish wave. At the time of writing, Bitcoin is trading at $111,138.19, up 1.92% in the last 24 hours. Its market capitalization exceeds $2.2 trillion, and daily trading volume has jumped to $89.05 billion (+45.45%).
Institutional Resurgence and Exchange Momentum Lead the Rally
The Chicago Mercantile Exchange (CME) leads the pack with 164,060 BTC in open contracts, valued at $18.23 billion, highlighting renewed institutional appetite. Binance follows with 122,450 BTC ($13.61 billion), while Bitget stands out with a daily OI increase of 10.85%. These numbers position the derivatives market as a key barometer for forecasting Bitcoin’s future price movements.
High Leverage Brings Opportunity and Risk in Equal Measure
While the explosive growth in open interest is a bullish indicator for the crypto ecosystem, it also introduces higher risk of liquidations if prices suddenly reverse. The significant use of leverage could magnify sharp movements, both upward and downward. In this context, the psychological support level at $110,000 becomes a critical zone to watch.
Altogether, these developments point to a phase of widespread optimism, with Bitcoin consolidating its role not only as a store of value but also as a sophisticated financial asset that continues to draw global attention. Far from being a passing trend, the current crypto market behavior indicates that Bitcoin is entering a new era of maturity and momentum.
