Ethereum Open Interest Hits Record High Of $17 Billion — Bearish Or Bullish For ETH Price?

Quick Summary:

In a November 30 post on the X platform, prominent crypto analyst Ali Martinez revealed that a particular class of Ethereum large investors has been active in the market.  Related Reading: Dogecoin Price Completes First Bull Phase Similar To 2021, Here’s What Comes Next Data from CryptoQuant shows that Ethereum whales holding between 100,000 and 1,000,000 coins have purchased over 280,000 ETH in the past four days.

In a Quicktake post on the CryptoQuant platform, an analyst with the pseudonym ShayanBTC has revealed that while the Ethereum price trajectory looks bullish at the moment, investors need to tread with caution.

ShayanBTC, however, noted that the notable spike in open interest was not accompanied by a new all-time high for the price of Ethereum.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOman

Topics: Ethereum Ethereum ETHUSDT Ethereum price Ethereum open interest

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-01 @ 13:30:20 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 451 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 24007141

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Main Topics: Crypto

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