Bitcoin’s Rally Driven by Leverage, Open Interest Hits New High

Bitcoin surged to a record high of $111,970, fueled by a significant increase in open interest on futures markets. This latest price surge suggests that leveraged trading activity is driving the rally rather than retail investor participation. 80.91 billion dollars in open interest marked a new all-time high for Bitcoin futures, exceeding previous records and reflecting increased reliance on leverage to participate in this market boom.