$29B Bitcoin Bets Are Back – But One Exchange Now Dominates 73%

Bitcoin open interest reaches $29B, its highest since Jan. 29, as Binance leads with $9.03B and BTC trades near $77,271.

Bitcoin open interest rose to $29 billion on May 5, its highest level since January 29.

Traders added long positions as Bitcoin moved toward $83,000, while Binance led activity with $9.03 billion in Bitcoin open interest.

Bitcoin Open Interest Returns to January Levels

Bitcoin open interest climbed to $29 billion on May 5, based on the reported market data.

The level marked the highest reading since January 29. Open interest tracks active futures contracts that remain unsettled.

The rise came as traders added long exposure during Bitcoin’s move toward $83,000.

Higher open interest often shows stronger participation in derivatives markets. It can also increase volatility when positions become crowded.

Market data showed that Binance accounted for about $9.03 billion in Bitcoin open interest.

That figure was roughly 73% higher than the second-largest exchange. The gap showed strong trader activity on Binance.

Such concentration suggests that many traders chose Binance as their main venue.

It also shows how exchange-level activity can shape Bitcoin futures positioning. Traders often watch these shifts during sharp price moves.

Binance Leads Bitcoin Futures Activity

Binance held the largest share of Bitcoin open interest among tracked exchanges. Its $9.03 billion total placed it well ahead of other platforms.

This made Binance the main center for reported Bitcoin futures exposure.

A higher concentration on one exchange can reflect liquidity and trader preference.

It can also show where leveraged positions are building. However, open interest does not show whether all traders are in profit.

The reported increase came during a period of active long positioning. Long positions benefit when Bitcoin prices rise.

Yet leveraged trades can face pressure when price moves quickly against them.

Bitcoin futures markets often react fast near major resistance levels. Funding rates, liquidation levels, and spot demand may affect short-term moves.

Traders are watching whether rising open interest supports continuation or creates risk.

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Bitcoin Price Faces Key Resistance

Bitcoin traded near $77,271 on the daily chart, up about 0.67% for the session. The price remained below the main Fibonacci retracement zone.

The chart used a low near $70,642 and a high near $121,782. The first key resistance level sits near $81,586.

This is the 0.786 Fibonacci retracement level. A daily close above that area would improve the short-term chart structure.

Further resistance appears at $90,177, $96,212, $102,247, and $109,713. The prior high zone remains near $121,782.

Bitcoin would need to reclaim higher levels to repair the broader trend.

Support is near $75,000 to $76,000. A close below that range could weaken the recent recovery. The next major support remains near $70,642.

The MACD showed early recovery signs, but the reading stayed mixed. The MACD line was near 266, while the signal line was near 944.

The histogram remained negative near minus 678. The RSI was near 46.55, while its moving average stood near 55.64. RSI below 50 showed that momentum had not turned fully bullish.

A move above 50 would show stronger buying activity. Bitcoin’s technical setup remains cautious while open interest rises.

Price is recovering from support, but it has not reclaimed $81,586. Traders now watch whether the $29 billion in Bitcoin bets can align with a breakout.

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