Bitcoin Interest Soars Above $80B Despite Price Drop Below $111K

Bitcoin’s Open Interest surged past a record high of $80 billion on May 22nd, marking a significant increase from previous peaks. However, the price briefly dipped below $111K, sparking concerns about market cooling down or increased volatility. Despite this dip, Open Interest remains strong and suggests potential for continued growth. Kingfisher indicates a slight risk of a short-term correction in this region with concentrated leveraged positions.