Ethereum futures open interest hits $20B all-time high: Will ETH price follow?

23 hours ago

Key takeaways:

Ether’s terms has rallied 108% to $2,880 since April 9.
ETH futures unfastened involvement deed all-time highs of $20 billion, signaling bullish sentiment.
Ether’s bullish cup-and-handle signifier targets $4,200.

Ether (ETH) terms gained 108% betwixt April 9 and June 11, reaching $2,880 for the archetypal clip since Feb. 8. This importantly outperformed the broader cryptocurrency market, which roseate by 49% during the aforesaid period.

Moreover, Ether futures unfastened involvement roseate to its highest level connected June 12, starring traders to speculate whether ETH terms could besides rally to caller all-time highs.

Ether futures amusement ETH traders are bullish

ETH futures open interest (OI) (cash-margined) deed a caller all-time precocious of implicit $20 cardinal connected June 12, up 155% since April 9, arsenic per information from Glassnode.

The Futures OI Cash Margin Perpetual metric measures the full magnitude of funds (in USD value) allocated successful unfastened perpetual futures contracts that are collateralized with cash. It helps measure the marketplace information level and the magnitude of superior astatine hazard successful cash-margined perpetual futures.

Rising unfastened involvement indicates accrued marketplace information and caller wealth flowing into ETH futures contracts.

This influx suggests increasing assurance among traders and investors, often a precursor to terms gains arsenic request strengthens.

Glassnode noted that traders usage stablecoins to summation vulnerability to ETH via futures contracts, reflecting a strategical displacement to risk-on contempt the terms pullback from $2,800.

This comes arsenic stablecoin marketplace capitalization reached a caller all-time precocious astatine $228 billion, up 17% year-to-date.

Stablecoins are booming again.

Market headdress deed a grounds $228B, up $33B (+17%) successful 2025.

Driven by rising trading activity, increasing outgo use, and clearer U.S. regularisation nether Trump. pic.twitter.com/76zKj49UWB

— CryptoQuant.com (@cryptoquant_com) June 12, 2025

Ether gains connected Bitcoin

ETH terms has much than doubled since April 9, outperforming Bitcoin (BTC), whose terms has risen by 44% vs the US dollar implicit the aforesaid period.

The ETH/BTC pair, oregon Ether’s worth successful Bitcoin, is besides up astir 50% since April 9, reaching a 14-week precocious of 0.02623 connected June 11. ETH/BTC trades astatine astir 0.02561 astatine the clip of writing.

“$ETH continues to amusement spot arsenic it's up 50% against #Bitcoin since the debased successful April,” said MN Capital laminitis Michael van de Poppe successful a June 11 station connected X.

According to the trader, the continuous spot of ETH suggests that the “bull marketplace is yet starting.” He added:

“I deliberation we're reasonably underestimating the imaginable of this full market.”

As Cointelegraph reported, ETH/BTC’s strengthening operation could trigger a breakout successful Ether’s price.

Ether’s cup-and-handle illustration signifier eyes $4,200

The ETH/USD brace has been forming a cup-and-handle illustration signifier connected its regular illustration clip framework since Feb. 12.

The signifier volition resoluteness erstwhile the terms breaks supra the pattern’s neckline, rallying arsenic precocious arsenic the magnitude of the anterior decline. The ETH/USD regular illustration beneath illustrates that the terms has breached retired of the grip and is present retesting the neckline absorption astatine $2,800.

A decisive regular candlestick adjacent supra the neckline volition wide the way toward the method people of the prevailing illustration signifier supra $4,170 and beyond.

Popular expert Daan Crypto Trades said that the $2,800 level (coinciding with the neckline successful the illustration above), is “important ” arsenic it could trigger a large breakout for ETH price.

$ETH The $2.8K level is important passim this cycle. It has sparked the biggest moves aft retesting oregon breaking above/below it.

So support an oculus connected this country and ticker for precocious timeframe breakouts oregon rejections. pic.twitter.com/SAN3b1Xszj

— Daan Crypto Trades (@DaanCrypto) June 11, 2025

As Cointelegraph reported, Ether’s breakout from a bull emblem could effect successful 30% gains to $3,670.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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