Bitcoin's Danger Signal Flashes: Bearish Bets Soar Even As It Surpasses $81,000

▲ Bitcoin (BTC) decline/AI generated image ©

Although Bitcoin (BTC) has surpassed $81,000, bearish bets are rapidly accumulating in the derivatives market, increasing short-term volatility warnings.

According to crypto media outlet Finbold on May 5 (local time), Bitcoin's Open Interest (OI) surged by over $10 billion in the past five days, reaching $64.7 billion. This is the highest level in 109 days. Bitcoin's Open Interest steadily recovered after hitting a low of approximately $43.04 billion on March 2, 2026.

Over the past 24 hours, Open Interest also increased by approximately 11% from $60.98 billion. By exchange, Binance accounted for the largest share at $11.89 billion, increasing by 13.48% in one day. MEXC saw the largest daily increase, surging by approximately 21% to reach $6.95 billion.

Bitcoin's price also rose by 2.46% during the same period, reaching $81,550, and its market capitalization expanded to $1.6 trillion. However, unlike the price increase, traders' positions seem to be leaning towards a short-term correction. According to CoinGlass, Bitcoin's Funding Rate has fallen to its lowest level since April 23.

Finbold analyzed that the increase in Open Interest along with an expanded negative funding rate indicates that derivatives traders are shifting to bearish positions. This supports the possibility that the recent rally was partly triggered by a short squeeze (buying pressure occurring to liquidate or cover short positions).

Profit-taking pressure also increased in the spot market. According to CryptoQuant data, as Bitcoin surpassed $80,000, holders recorded their largest single-day realized profits since December 10 last year. Although the price increased, the simultaneous surge in Open Interest, decline in funding rates, and expanded profit-taking have put the market in a tense phase, awaiting its next direction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*