Bitcoin futures open interest hits $72B, short liquidation risk grows

Bitcoin (BTC) futures open interest hit a record $72 billion on May 20, fueled by institutional demand, according to Cointelegraph citing CoinGlass data. Despite struggling to break the $107,000 resistance, $1.2 billion in short positions are at risk of liquidation if BTC pushes higher. Rising U.S. fiscal concerns and U.S. Treasury yield shifts could weaken the dollar and drive further interest in BTC as an alternative asset. A small reallocation from gold to BTC could also add significant upward pressure, potentially triggering a new all-time high.