2026-01-02 16:23:07

Ethereum futures open interest has surged by 10.27% in the past two days. What does this indicate? Generally speaking, such a large increase in a single day doesn't happen without reason — it often signals that the market is about to make a significant directional move. Coupled with the spot price rising by 2.54%, it can be basically judged that the bulls are actively building positions, which is a clear bullish signal. What's more interesting is the options market, where the $3,200 strike price is filled with call options contracts, making it a short-term price target. However, there's a problem that cannot be ignored — large open interest means high leverage usage. If the market moves in the opposite direction, a chain reaction of liquidations could cause chaos in the market. So even if you're optimistic about the future, you should control your positions and avoid letting leverage become a trigger for risk.

ETH-0,86%

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HodlAndChill

· 01-05 16:11

A 10% increase is indeed significant, but I'm more concerned about the leverage ratio behind it... After the last time of such crazy building positions, it directly dumped, and I feel this time won't be an exception either.

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AirdropJunkie

· 01-04 17:04

Here we go again with the 3200 hurdle, stacking options here every time... Those who trusted it last time got trapped.

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RegenRestorer

· 01-03 12:55

With such a huge increase in holdings, is the 3200 level really a trap? It seems like the bulls are a bit too confident.

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SnapshotLaborer

· 01-02 16:51

This 10% increase is not that simple; there must be big players behind the scenes... --- The 3200 level is filled with bullish orders, but if this wave reverses, us small retail investors will be directly wiped out. --- Leverage is truly a double-edged sword; it’s exhilarating when you profit, but incredibly despairing when you lose. --- The surge in holdings combined with the rise in spot prices shows that the bulls are indeed gaining momentum, but I still need to see how it develops later. --- I don’t dare to go all-in; half of my position is for safety, and the other half is to catch the gains. --- The chain reaction of liquidation is spot on; I’ve seen too many leverage traders return to zero overnight. --- Wait and see before making a move; first, check if 3200 can hold steady.

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SingleForYears

· 01-02 16:45

The bulls are aggressively expanding their positions, but I always feel this build-up isn't that simple. --- Is the 3200 level really that sweet, or is it just another trap to lure in buyers? --- It's a bullish signal, or maybe just pre-warming for a liquidation. --- A sudden surge in positions means they're using leverage to gamble on the market, interesting. --- Here we go again? Every time futures spike, someone claims it's bullish accumulation, but in the end, they're just taking the fall. --- Leverage is a double-edged sword; it can make you rich when you're winning, but it can also trap you when you're losing. --- I just want to know, is this wave from institutions building positions or retail investors bottom-fishing? --- A pile of call options indicates big funds are locking in profits, so I’m not too optimistic. --- What they said is true, but how many can actually control their positions? It's all greed that causes problems. --- Ethereum still needs to fall; this move is too fake.

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LiquidatedNotStirred

· 01-02 16:44

It's another frenzy of leverage, with such a strong open interest, a liquidation wave is bound to come sooner or later.

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PoetryOnChain

· 01-02 16:44

Hey, a 10-point increase is indeed quite impressive, but I still think this bullish wave is a bit too optimistic... The risk of liquidation is the key.

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FudVaccinator