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Ethereum Futures open interest (OI) increased by 50% this month and from 1 May climbed from $ 20.77 billion 1 May to 31.16 billion.
Before this fragment, ETH spent more than two months imprisoned under $ 2,000 and tried to regain up from the wider market correction in March.
The timing between price action and futures activity suggests that the increase in open interest was more reactive than predictive. Traders seemed to increase their exhibition as soon as Ethereum confirmed the strength of over $ 2,000 and bet on permanent bull dynamics.
The price of the price increased to $ 2,700 to 13 May, which strengthens the bull’s sentiment across the point exchanges. However, the Futures market has absorbed most of the enthusiasm, with growth growth exceeding the volume of the spot.
Binance and BybitBoth hubs for retail traders have seen strong influx with Cme, A representative for institutional activity, It showed a more silence reaction and even in the last 24 hours has seen a 5% drop in OI.
The expansion of the futures exposure, especially in the context, when the purchase remains relatively measured, represents a layer of fragility. The rapid accumulation of open interest without continuous demand for the place leaves the market vulnerable to deletional events.
Meanwhile, Ethereum will prevent $ 2,000 to determine whether the aggressive futures position leads to a continuation of the higher or determines the phase of sudden liquidation.
