Bitcoin (BTC) is holding steady above $106,000, with futures open interest reaching a record $72 billion on May 20, marking an 8% increase from $66.6 billion just a week earlier. This surge reflects growing institutional demand, with the Chicago Mercantile Exchange (CME) leading at $16.9 billion in BTC futures, followed by Binance at $12 billion. (Sources : Bitget)
The calm volatility and buoyant sentiment are fueling leveraged bets, setting the stage for BTC to potentially break into new all-time highs. Analysts suggest that the current market conditions could lead to a clean move upward, provided the momentum continues.
Altcoins are also experiencing gains, with Dogecoin (DOGE), Cardano (ADA), and XRP each adding approximately 4% to their value. Notably, CME's new XRP futures contracts have pulled in nearly $30 million since their debut, reviving hopes for a U.S.-listed spot XRP ETF
As the market watches closely, the coming days will be crucial in determining whether BTC has the strength to push beyond its all-time highs or if a correction could occur.
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