Bitcoin open interest surges above $8.9 billion on Binance

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Bitcoin (BTC) has recorded a 40% increase in its Open Interest (OI) – its total open futures contracts – on Binance, the largest cryptocurrency exchange by daily traded volume, over the past 82 days.

Between early March and May 22, Bitcoin’s OI rose by $2.56 billion, increasing from $6.4 billion to around $8.9 billion, according to CryptoQuant data analyzed by Finbold.

BTC deleveraging signal. Source: CryptoQuant

Consequently, BTC’s OI has now risen above its 180-day Moving Average (MA), which may signal the end of the deleveraging event that began after the October 11, 2025, crypto crash.

“Despite a macro environment that has continued to deteriorate, Bitcoin’s sharp correction attracted more speculative traders looking to play a rebound,” analyst Darkfost from CryptoQuant, stated.

What’s next for Bitcoin price amid rising OI?

Amid the significant spike in Bitcoin’s OI on Binance, its Funding Rates – a set fee meant to maintain perpetual contract price pegged to the underlying asset – have shifted positive, based on metrics from CoinGlass. Historically, when BTC’s OI shifts to the positive side, it signals bullish sentiment, as traders are willing to pay a premium to hold their long positions.

BTC OI-weighted Funding Rate. Source: CoinGlass

As such, Bitcoin price could rebound above $80,000 again in the near future, fueled by rising leverage of bullish traders. However, Finbold AI Agent – an advanced financial assistance tool – has predicted a further BTC price drop over the next 7 days, potentially catalyzed by a long squeeze, a rapid price decline driven by a shift in long bets to short traders.

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Bitcoin price prediction for 7 days. Source: Finbold

As Bitcoin price traded around $77,145 at press time, the Finbold AI Agent predicted the flagship coin could drop 2.34% to $75,343 on May 29. However, if BTC price regains its psychological support level above $80,000 in the coming days, its rising OI amid positive funding rate could fuel further bullish sentiment.

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