As BTC nears its highest price ever, Bitcoin futures open interest expands significantly; DOGE, ADA, and XRP each rise 4%.

As Bitcoin steadies above $100,000, futures markets are seeing a surge in activity, suggesting traders are gearing up for a potential breakout to new all-time highs.

Bitcoin traded near $107,000 on Tuesday, inching closer to its record level amid growing interest from leveraged investors.

Futures open interest across key exchanges hit a new high of $75 billion in USD terms, signaling increased speculative engagement.

Meanwhile, Bitcoin has maintained a price above $100,000 for more than 11 days, pointing to sustained accumulation and market confidence.

“Right now, Bitcoin appears to be consolidating,” said Ruslan Lienkha, head of markets at YouHodler. “This phase could be building momentum for another upward move, potentially surpassing previous peaks.”

At Tuesday’s open, Bitcoin was priced just above $107,500, up about 1.5% over the past day. Ethereum and Solana also gained 2%, while Dogecoin, Cardano, and XRP each rose roughly 3-4%.

Supporting the bullish sentiment, derivatives data shows a call-to-put open interest ratio of 1.55, alongside rising premiums for out-of-the-money calls, indicating traders are betting on an upside breakout, according to HTX Research’s Chloe Zheng.

Short-term implied volatility has dropped to between 35% and 40%, its lowest in 18 months, reflecting a calm market even as leverage grows.

“Periods of low volatility combined with strong bullish sentiment often hide increasing leverage, which can lead to rapid price movements,” HTX Research noted. “Bitcoin could reach new highs within the next month to month and a half.”

Yet, resistance around $107,000 remains firm. FxPro analyst Alex Kuptsikevich pointed out that retail traders and momentum players are driving the market forward despite uncertainties surrounding the broader economy and exchange security.

“Price action going forward depends on shifts in global risk appetite,” Kuptsikevich explained. “A break above $107K would pave the way toward $115K.”