Overview

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The bearish sentiment toward Ethereum has increased in crypto exchanges, especially on Binance, the world’s largest cryptocurrency exchange. Verified author and on-chain expert for Hace 4 días During its recent rally, Ethereum did not see a flurry of activity from retail investors in the spot market. The consistent demand for ETH in May showed that the price dip might not Ethereum has faced significant selling pressure in recent trading sessions as broader market trends turn more bearish. After attempting to break above key resistance levels, ETH has On Friday, the aggregate ETH OI attained a new ATH by surpassing the $8 billion mark. Bitcoin OI, on the other hand, remains to be flat and is fairly lower when Bearish Forecast Puts Ethereum Under Pressure. The top altcoin by market cap is about to fall to 0.03 BTC, according to a recent big warning from Adamant Research's Ethereum faces bearish pressure as liquidations and ETF outflows surge, key support at $2,000 becomes crucial. ETH needs to break above $2,250 to regain bullish Ethereum’s open interest (OI) has surged to $562 million, reflecting growing market engagement. This increase follows Bitcoin’s trend, though ETH’s funding rate and perpetual pricing Ethereum open interest still remains high despite ETH’s decline to the low $1,000s back in September. Data shows that the open interest in ETH has reached $7.7 billion this week Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could

Ethereum OI Claims $8B, But Here\'s Why It\'s Bearish

On Friday, the aggregate ETH OI attained a new ATH by surpassing the $8 billion mark. While seemingly bullish, a deeper dive reveals a more bearish picture for Ethereum (ETH). Ethereum’s open interest (OI) has surged, reflecting growing market engagement, however, this isn\'t necessarily a good sign.

The Bearish Sentiment Behind the Ethereum OI Surge

The bearish sentiment toward Ethereum has increased in crypto exchanges, especially on Binance, the world’s largest cryptocurrency exchange. Despite the high open interest, Ethereum has faced significant selling pressure in recent trading sessions as broader market trends turn more bearish. This indicates that a significant portion of the OI is comprised of short positions, betting against ETH\'s price.

Verified author and on-chain expert explains, "During its recent rally, Ethereum did not see a flurry of activity from retail investors in the spot market. The consistent demand for ETH in May showed that the price dip might not..." meaning underlying support might be weaker than expected.

Key Factors Contributing to the Bearish Outlook

Selling Pressure: Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment. If Ethereum falls below $2,000, it could signal further declines.
Market Trends: Broader market trends are turning more bearish, impacting ETH\'s performance.
Bitcoin\'s Performance: Bitcoin OI, on the other hand, remains to be flat and is fairly lower. This divergence highlights the relative weakness in Ethereum\'s market compared to Bitcoin.
Resistance Levels: After attempting to break above key resistance levels, ETH has struggled to maintain upward momentum. ETH needs to break above $2,250 to regain bullish momentum.

Expert Analysis and Predictions

Bearish Forecast Puts Ethereum Under Pressure. The top altcoin by market cap is about to fall to 0.03 BTC, according to a recent big warning from Adamant Research\'s. This adds further weight to the negative outlook.

Ethereum faces bearish pressure as liquidations and ETF outflows surge, key support at $2,000 becomes crucial.

Conclusion: High OI Doesn\'t Always Mean Bullish

While Ethereum open interest still remains high, data shows that the open interest in ETH reached $7.7 billion recently. Despite ETH’s decline, this high OI, coupled with the factors mentioned above, suggests that a significant portion is betting against ETH. The $8 billion OI claim, therefore, should be interpreted with caution, as it currently leans towards a bearish outlook for Ethereum.