---
title: "Bitcoin holds near $77,400 as derivatives signal caution"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287078902.md"
description: "Bitcoin rose 0.7% to $77,400, despite a decline in futures open interest, indicating traders are reducing exposure. XRP's open interest increased to its highest since October, with a 5% rise to 2.15 billion XRP. Negative cumulative volume delta suggests some traders may be shorting. Implied volatility for Bitcoin and Ether is at 2026 lows, leading Deribit to recommend long straddles for those expecting significant price movements."
datetime: "2026-05-20T13:55:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287078902.md)
  - [en](https://longbridge.com/en/news/287078902.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287078902.md)
---

# Bitcoin holds near $77,400 as derivatives signal caution

-   Bitcoin gained 0.7% to $77,400 even as open interest in the cryptocurrency's futures fell, hinting that traders are trimming exposure into the recovery rather than adding to it.
-   XRP open interest rose to its highest since October, adding over 5% to 2.15 billion XRP alongside price gains. Heavily negative cumulative volume delta suggests some participants may be shorting the bounce.
-   Implied volatility for both bitcoin and ether sits near 2026 lows, prompting Deribit to flag long straddles as a preferred near-term trade for those anticipating a big move in either direction.

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