The total Bitcoin futures open interest across all exchanges has hit a new all-time high, with the funding rate indicating an intense market battle between longs and shorts.

BlockBeats News, May 21st, according to Coinglass data, the total amount of Bitcoin futures contracts across the entire network has reached a record high of $74.557 billion. This data is slightly higher than the two previous occasions when Bitcoin reached a phase top (December 18, 2024, at $71.852 billion, and January 22nd of this year at $69.568 billion).

It is worth noting that the funding rates for Bitcoin futures trading pairs on mainstream CEX and DEX platforms currently indicate a relatively neutral market. Some platform rates are as follows: Binance (0.0084%), OKX (0.01%), Bitget (0.01%), Gate (0.0025%), MEXC (0.0084%); Bybit (-0.0064%), BingX (-0.0064%).

According to Bitcoin exchange platform liquidation map data, if Bitcoin breaks through $109,028, the cumulative short liquidation intensity will reach $2.181 billion; if Bitcoin falls to $104,921, the cumulative long liquidation intensity will also reach $2.206 billion.

In the past 24 hours, the total value of liquidated positions across the network was $250 million, with $115 million in long liquidation and $134 million in short liquidation.