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Bitcoin Open Interest just hit one of the highest levels on record

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Bitcoin (BTC) Open Interest (OI) – a measure of the amount of money invested in its derivatives at any given time – has surged to the highest level in 109 days on May 5.

The Bitcoin OI has spiked by more than $10 billion over the past five days, reaching $64.7 billion at press time, according to CoinGlass data analyzed by Finbold. Notably, the BTC’s derivatives market has gradually recovered since hitting its 2026 low of approximately $43.04 billion on March 2.

Over the past 24 hours, Bitcoin OI surged by nearly 11% from $60.98 billion. As of press time, Binance controlled the lion’s share of BTC’s OI at about $11.89 billion, up 13.48% in 24 hours. MEXC exchange recorded the largest daily uptick, at roughly 21%, reaching around $6.95 billion at the time of publication.

What’s next for Bitcoin price amid renewed interest via OI

Following the notable rise in Bitcoin OI, the BTC price rose 2.46% over the past 24 hours, reaching $81,550 at the time of publication. As such, the flagship coin’s market capitalization climbed to $1.6 trillion.

However, the majority of Bitcoin traders are betting on a near-term reversal. For instance, its Funding Rate – a fee set to balance perpetual contract price to underlying asset price – dropped to the lowest level since April 23, based on updates from CoinGlass.

With rising BTC OI, a sharp uptick in negative funding rates suggests more derivative traders have shifted to bearish positions.

Meanwhile, the recent Bitcoin price uptick, potentially fueled by a short squeeze as Finbold explained, has seen more spot traders accelerate profit-taking. After BTC price surged above $80,000, holders realized their highest daily profit since December 10, 2025, as per data from CryptoQuant.

The post Bitcoin Open Interest just hit one of the highest levels on record appeared first on Finbold.

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