Ethereum Leverage Elevated Despite Long Squeeze, Glassnode Says

Quick Summary:

From the graph, it’s visible that the Ethereum futures market has just witnessed a massive amount of long liquidations.“Yesterday, $76.4M in ETH long liquidations hit the market, with $55.8M wiped out in a single hour – the second-largest spike in a year, just behind Dec 9’s $56M,” notes Glassnode.

Here is another chart, this time for the Open Interest, which showcases the market deleveraging: The “Open Interest” is an indicator that keeps track of the total amount of Ethereum-related futures positions that are open on all centralized derivatives exchanges.

Ethereum Open Interest Still Notably Above The Yearly Average In a new post on X, Glassnode has discussed about how the Ethereum futures market has changed during the past day.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: United KingdomChinaIndiaJapan

Topics: Ethereum futures ETHUSDT ETH Glassnode Ethereum Ethereum Longs Ethereum open interest Ethereum Long Squeeze Ethereum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 06:30:13 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 417 words

Reading Time: 3 minutes read

Sentences: 61 lines

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Copyright Owner: © NewsBTC

News ID: 25905344

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