The Bitcoin open interest has surged significantly once again, with its price surpassing previous highs to achieve new all-time records. The value of Bitcoin (BTC) has consistently remained above the $100,000 threshold for an extended duration, fostering renewed confidence among investors that the cryptocurrency may have reached its lowest point. This development has prompted crypto traders to increase their investments, resulting in open interest climbing back above levels seen in December 2024 and May 2025.
In December 2024, Bitcoin's open interest reached a notable milestone, exceeding $70 billion and establishing a record high at that time. The price of Bitcoin also escalated sharply, crossing the $100,000 mark for the first time, which further intensified interest in the digital asset. However, shortly after these milestones were achieved, short-sellers began to dominate the market. Consequently, the Bitcoin price quickly fell back below $100,000, and within the following months, open interest plummeted to around $40 billion, reflecting a 40% decline by May 2025.
Currently, Bitcoin's open interest has once again surpassed the $70 billion mark, nearing the $77 billion peak recorded in May 2025, according to data from Coinglass. Simultaneously, the BTC price has managed to stay above $100,000, reaching a new all-time high of $117,000. Based on historical trends, there is a likelihood that Bitcoin's price will continue to rise; however, this new peak could signal potential bearish trends. There is a possibility that the market might replicate the trend observed in December 2024, leading to a price correction after reaching new highs, as short positions accumulate.
As Bitcoin's open interest rises and the price breaks new records, concerns about a potential downturn have intensified. According to NewsBTC, crypto analyst FriendlyRox predicts that Bitcoin's price could decline by nearly 50%, potentially dropping to as low as $60,000. Similarly, market expert Capo of Crypto anticipates a significant crash that could bring Bitcoin below the $100,000 mark, adversely impacting altcoins. This outlook comes as institutional investment in the crypto market continues to rise, with Bitcoin at the forefront, and Capo warns of a possible 'Black Swan' event reminiscent of the COVID crash.
