According to the source, ETH open interest just recorded its biggest reset since 2024, based on CryptoQuant derivatives data shared on September 26, 2025. CryptoQuant’s readings show a sharp contraction in ETH perpetual and futures open interest, indicating widespread closing of positions rather than new leverage, which aligns with CME Group’s definition that declining open interest reflects liquidation of existing contracts rather than initiation of new ones. For trading, ETH funding rates, basis, and liquidation metrics can be monitored on CryptoQuant to track whether leverage rebuilds or remains depressed after this reset, using the same CryptoQuant datasets for confirmation.

According to @rovercrc, Ethereum's open interest dominance is now leading the market, indicating a significant shift in trading trends. This suggests that traders are increasingly focusing on ETH derivatives, which historically precedes periods of strong altcoin performance. The source notes that as the market cycle progresses, altcoins are likely to deliver even greater returns, making the current environment particularly favorable for altcoin traders.

According to glassnode, Ethereum (ETH) open interest dominance has surged to nearly 40%, reaching its highest level since April 2023. Only 5% of trading days have seen a higher reading, indicating a significant shift in speculative focus from Bitcoin (BTC) to Ethereum. This trend suggests traders are increasingly allocating capital to ETH, which could impact short-term volatility and liquidity dynamics in both ETH and BTC markets. Source: glassnode

According to @rovercrc, Ethereum open interest has reached exceptionally high levels, with Bitcoin displaying a similar trend. This surge in open interest for both ETH and BTC indicates that the crypto markets are heating up, signaling a strong potential for increased volatility. Traders should closely monitor these developments for possible rapid price swings and trading opportunities, as high open interest often precedes significant market moves (source: @rovercrc).

According to glassnode, ETH futures open interest (cash-margined) has reached a new all-time high, surpassing $20 billion. Despite a minor price pullback from the $2.8K level, traders are aggressively increasing leverage by using stablecoins, signaling heightened speculative activity. This surge in open interest reflects strong market engagement and could drive increased volatility and liquidity in the Ethereum (ETH) market. Crypto traders should monitor leverage ratios and funding rates closely for potential price swings. (Source: glassnode, June 12, 2025)

According to Flood (@ThinkingUSD), Ethereum (ETH) currently presents a potential shorting opportunity as a hedge, citing that ETH open interest has surged dramatically while inflows into ETH ETFs remain significantly lower than those seen in Bitcoin ETFs and are unlikely to match them. For traders, this divergence between open interest growth and lagging ETF inflows may signal increased leverage and potential downside risk for ETH, making short positions a strategic hedge in current market conditions (source: Twitter/@ThinkingUSD, 2025-05-30).

According to @RaoulGMI, the current phase of the cryptocurrency market signals the beginning of a powerful golden bull run, with institutional inflows and increased retail activity indicating further upside potential (source: Twitter @RaoulGMI, 2024-06-12). Trading data show Bitcoin and Ethereum experiencing surging volumes and open interest on major exchanges, while altcoins like Solana and Avalanche are attracting new capital. Traders are closely watching on-chain metrics such as exchange reserves and whale accumulation, which support the bullish outlook. These indicators suggest the crypto market could see significant price acceleration in the coming months, making now a key time for technical and sentiment-based trading strategies.