Ethereum open interest hits new all-time high — Will ETH price follow?
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Ether (ETH) has experienced a significant price decline of 28% since February 21, underperforming the broader crypto market. Despite this downturn, ETH futures open interest reached a new all-time high of 10.23 million ETH on March 21. However, the increased open interest does not necessarily indicate bullish sentiment, as the futures premium has dropped and spot ETF outflows continue.
March 21, 2025 | 7:30 pm
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Ether's futures open interest reached a record high, but this does not necessarily indicate a bullish trend. Reduced leverage demand and declining network fees suggest ongoing market challenges.
The record high futures open interest is not driven by bullish positioning. Factors like declining futures premium, spot ETF outflows, and reduced network fees suggest continued price pressure for Ethereum.
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