Ethereum

Flow

Future

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-futures-interest-hits-record" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Futures Interest Hits Record</a><br></p>
<p style="text-align: justify">Ethereum’s futures open interest has soared to an unprecedented $16 billion, marking a significant milestone during the recent cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> surge. This spike reflects Ethereum’s attempt to reclaim the $4,000 benchmark and inch closer to its historical peak of $4,891 from three years ago.</p>
<h2 id="what-is-driving-ethereum-s-surge">What Is Driving Ethereum’s Surge?</h2>
<p style="text-align: justify">As of the latest <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, Ethereum’s futures open interest has reached $16 billion, sparked by a 45% rise since May 19. This metric, which measures the total number of unsettled or open futures contracts, signals that more market players are opening new positions. To date, Ethereum’s open interest has seen a 69% increase this year.</p>
<p style="text-align: justify">Moreover, the surge in open interest is coupled with a positive funding rate, currently at 0.014%. The funding rate, a periodic payment meant to keep the futures price aligned with the spot price, indicates heightened demand for long positions when positive. This typically happens when the futures price exceeds the spot price, suggesting a stronger buying demand.</p>
<h2 id="what-does-positive-funding-rate-indicate">What Does Positive Funding Rate Indicate?</h2>
<p style="text-align: justify">When the funding rate is positive, long position holders pay those with short positions, reflecting market optimism. This trend signals that bullish sentiment is dominating Ethereum’s futures market, with an increasing number of participants opening new positions and holding bullish expectations for the altcoin.</p>
<h2 id="market-indicators-and-future-predictions">Market Indicators and Future Predictions</h2>
<p style="text-align: justify">Supporting the bullish outlook, Ethereum’s Relative Strength Index (RSI) was observed in an upward trajectory, standing at 71.21. This momentum indicator suggests that traders are favoring accumulation over selling. Concurrently, the Chaikin Money Flow (CMF), which measures capital movement in and out of the market, was above zero at 0.22. This positive CMF value indicates strong market confidence and substantial capital inflow.</p>
<p style="text-align: justify">Should this influx of new money persist, Ethereum could break past the $3,790 barrier and potentially trade at around $3,838, signifying continued bullish momentum in the crypto market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-futures-interest-hits-record" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Futures Interest Hits Record</a></h5>

Ethereum Futures Interest Hits Record

Table of Contents

BH NEWS

Other articles published on May 23, 2024

How Did MoonBag Presale Overshadow BlastUp With Phenomenal 15,000x ROI! Fantom’s Sonic Makes Head...

US CBDC: Thin Line Between Innovation and Privacy Concerns

Mysterious 240 Million XRP Transfer: Where Did It Go?

FIT21 Bill To Become A Regulatory Framework For Digital Assets

Binance Megadrop Introduces Lista (LISTA) As Its 2nd Project

SHIB Scores Listing on Major Solana-Centered Exchange, Ripple Forms Coalition With Crypto Heavywe...

Join our free newsletter for daily crypto updates!