Ethereum Futures Open Interest Hits All-Time High as Bullish Trend Persists

Ethereum Futures Traders Put in More Buy Orders

The recent market rally has pushed Ethereum’s futures open interest to an all-time high of $16 billion. This surge comes as the leading altcoin attempts to reclaim the $4,000 price level and rally toward its all-time high of $4,891, which it recorded three years ago.

ETH Futures Open Interest Measures Surge

As of this writing, ETH’s futures open interest was $16 billion, indicating a 45% increase since May 19. The rise in open interest suggests a growing number of market participants entering new long positions, driving Ethereum's bullish trend.

Positive Funding Rate Signals Bullish Activity

The positive funding rate of 0.014% for ETH's futures market indicates higher demand for buying than selling. This payment mechanism ensures contract prices remain close to spot prices and signals strong market confidence in Ethereum's potential rally.

Technical Indicators Support Bullish Momentum

ETH's RSI trending upwards at 71.21 and CMF above zero at 0.22 indicate market strength and capital inflow. With continued new money entering the market, Ethereum may see further price gains towards $4,000, while profit-taking activities could temporarily push the price down to $3633.