Ethereum

<ul><li>Coinbase aggressively buys Ethereum&#39;s dip, signaling a potential market reversal ahead.</li><li>Ethereum&#39;s open interest plummets, prompting Coinbase to step in with heavy buying.</li><li>Negative funding rates and Coinbase buying spark hopes of an Ethereum price bounce.</li></ul><a href="https://cryptotale.org/coinbase-teases-cbbtc-launch-sparking-bitcoin-market-buzz/" rel="noopener noreferrer nofollow">Coinbase</a> has recently intensified its buying activity during a significant dip in Ethereum&#39;s price, a move observed closely by market participants. This surge in buying comes as open interest (OI) in Ethereum futures witnessed a substantial decline, triggering discussions around potential market reversals.In a recent post by CrediBULL Crypto, it was highlighted that Coinbase is buying the dip aggressively, with a notable reduction in open interest. The analyst emphasizes that the significant decrease in OI suggests a liquidation event or traders closing positions. This often creates an environment ripe for reversals. CrediBULL mentions taking profits on main shorts, advising a shift towards considering long positions in the current market conditions.In another post, the analyst sheds light on the drastic drop in Ethereum&#39;s open interest, describing it as &#34;nuked.&#34; The post also points out that funding rates are becoming increasingly negative. Negative funding rates indicate that short positions are paying long positions, which can be a sign of bearish sentiment. However, this scenario can often lead to a short squeeze, where short-sellers are forced to buy back their positions, leading to a price increase.<a href="https://cryptotale.org/coinbase-aggressively-buys-eth-dip-as-open-interest-plunge/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Coinbase Aggressively Buys ETH Dip as Open Interest Plunge

CryptoTale

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