Bitcoin Nears All-Time High at $107,500, Futures Open Interest Hits $75 Billion

Bitcoin (BTC) is nearing its all-time high, currently hovering around $107,000, with analysts predicting further upward movement in the near future. This surge in price is accompanied by a significant increase in futures open interest across major exchanges, reaching $75 billion, an all-time high in U.S. dollar terms. This indicates heightened speculative activity and leveraged positioning in the market.

The rally in spot markets has been sustained, with BTC maintaining a price above $100,000 for over 11 consecutive days. This prolonged period of high prices suggests accumulation and strength at current levels, according to some traders. Ruslan Lienkha, chief of markets at YouHodler, described the current price action as a consolidation phase marked by accumulation, potentially setting the stage for another leg higher that could lead to a new all-time high.

As of Tuesday morning, Bitcoin was trading above $107,500, up nearly 1.5% over the past 24 hours. Other major cryptocurrencies also saw gains, with Ether (ETH) and Solana’s SOL adding 2%, while Dogecoin (DOGE), Cardano’s ADA, and XRP each increased by 3%.

Derivatives data further support the bullish outlook. The call-to-put open interest ratio reached 1.55 over the weekend, indicating that traders are positioning for a breakout. Premiums for out-of-the-money calls also rose across the board, suggesting that traders are optimistic about a potential price surge. HTX Research’s Chloe Zheng noted that this mix of euphoric sentiment and low volatility often conceals the build-up of excessive leverage, but under such conditions, Bitcoin could retest new highs within 30–45 days.

Despite the bullish sentiment, resistance at the $107,000 level has held firm. Analysts suggest that the market is driven by a crowd of retail investors and momentum-chasing traders who remain undeterred by macro uncertainty or recent exchange security concerns. Further dynamics will depend on changes in global risk appetite. If the resistance at $107,000 is broken, there are more chances to restore the uptrend, potentially opening a path toward $115,000.