Bitcoin open interest hits record high as bulls stampede toward new BTC price highs

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...