Bitcoin futures OI tops $80B, sets new high

Bitcoin futures open interest (OI) hit a record high of over $80 billion on May 23, a 30% rise since early May, indicating a surge in leveraged bets on rising prices, according to Cointelegraph, which cited data from CoinGlass. While this suggests strong bullish sentiment, it also raises the risk of liquidations and market volatility if prices drop. However, over $2.5 billion has flowed into spot Bitcoin ETFs this week, which may help offset some of the leverage-driven risk.