Bitcoin Rebounds to $77,400 as Futures Open Interest Falls and Volatility Nears 2026 Lows
Updated
Updated · CoinDesk · May 20
Bitcoin Rebounds to $77,400 as Futures Open Interest Falls and Volatility Nears 2026 Lows
5 articles · Updated · CoinDesk · May 20
Bitcoin traded near $77,400, up 0.7%, but bitcoin futures open interest slipped to 744,000 BTC globally, signaling traders are cutting exposure into the rebound rather than adding fresh risk.
Crypto derivatives activity also cooled, with 24-hour volume down 29% to $142.76 billion and liquidations falling 47% to $153 million, reinforcing a cautious tone after bitcoin failed to clear $83,000 last week.
XRP diverged from that pattern: open interest jumped more than 5% to 2.15 billion XRP — the highest since Oct. 11 — alongside price gains, though a heavily negative volume delta suggests some traders may be shorting the move.
Implied volatility for bitcoin and ether remains near 2026 lows, leading Deribit to favor long straddles as a way to position for a larger move in either direction.
Altcoins stayed mixed and the broader market subdued, with CoinMarketCap's Altcoin Season gauge at 34/100 as investors also watched bond-market stress and Nvidia earnings.
With Bitcoin now tracking the US dollar, has it lost its status as a safe-haven asset?
Derivatives data signals a crypto retreat, so who is driving the current market rebound?
As tokenized assets and regulated stablecoins grow, is crypto's rebellious phase officially over?