- BTC OI exploded to $ 80 billion, but late lungs can be liquidated to trend the price higher.
- There was a relatively little sales pressure compared to the previous ATH at the end of 2024.
Bitcoin [BTC] Speculative activity has expanded, with open interest (OI) reaching a record high of $ 80 billion on 22 May.
This was $ 10 billion more than the OI peak at the end of 2024. But unlike the last local peak, there was no excessive market foam Just.
But despite the record of the peak, BTC prize on Thursday briefly slipped below $ 111k, so that concern was likely cool down Or upward volatility.
Market expects an extra run
A risk of short cooling can be made from a liquidation heat.
According to the Kingfisher liquidation card platform, there was a concentrated livered bull on the $ 108k $ 109k and falls to $ 104k area, compared to shorts positions above $ 111k.
In the case of a liquidity -driven flush, the above arrangement suggested that a light dip could not be ignored. Soon BTC tagged the $ 108k at the time of writing.
However, every short dip can be a springboard for a further meeting, based on muted measurements of important overheated market indicators.
In particular, the Handelsbureau Swissblock established in Switzerland stated that the current win (around $ 3 billion) realized was much lower compared to the last December peak ($ 10 billion). The company stated”
“Bitcoin just gets a new Ath and sales pressure is nowhere to be found. Don’t make a big profit, no panic. Bitcoin can have more room to run.”
Source: Swissblock/X
A similar healthy market photo was painted by João Wedson van Alphractal, based on trade volume by Bitcoin funds.
The analyst stated that the last BTC -top was marked when the BTC ETF Fund index tagged a record high. That could still be seen despite the new ATH prize for BTC, and added”
“There is still room for growth for a potential extreme euphoria in this segment.”
That said, when he zoomed out on the weekly charts, BTC was about 10% away from tagging the multi -year trend line resistance (yellow). In 2023, 2024 and 2025, BTC was confronted with rejection at this level.
If history repeats itself, BTC can only be confronted with another extensive correction after tagging this obstacle (ranging somewhere between $ 118k to +$ 130k).
Source: BTC/USDT, TradingView
In general, BTC can cool slightly to shake out late lungs between $ 104k $ 108k. But important indicators suggested that it is actively an extra ammunition to push higher.