- Ethereum futures open interest hits $20B, signaling rising investor confidence.
- Whale accumulation and market cap breakout boost long-term bullish sentiment.
- Short-term metrics hint at cooling, with $85.6M in liquidations in 24 hours.
Ethereum is currently navigating a volatile but intriguing path in the crypto market. With futures open interest reaching a record-breaking $20 billion and market momentum showing strong signs of recovery, the broader sentiment around Ethereum remains cautiously optimistic.
However, short-term price indicators and technical analysis are sending mixed signals. Despite a recent price pullback, Ethereum continues to show resilience, backed by bullish market activity, renewed institutional interest, and substantial whale accumulation.
Market Momentum Builds Amid Institutional Interest
According to Lucky, a crypto analyst, Ethereum is seeing an extraordinary surge in futures activity. The $20 billion in open interest signals renewed confidence among both retail and institutional investors. This surge has coincided with Ethereum doubling its price since April, a strong indication of market conviction.
Ethereum is on fire. Futures open interest just hit an all-time high of $20 BILLION, a massive vote of confidence.
— Lucky (@LLuciano_BTC) June 12, 2025
This comes as $ETH has doubled in price since April, showcasing incredible market strength and momentum. pic.twitter.com/3N2bZAwsr5
Besides that, ALexia, another leading analyst, highlighted that Ethereum has reclaimed a $345 billion market cap after breaking out from a prolonged consolidation phase. The asset appears to be following the Wyckoff reaccumulation pattern, typically a bullish setup suggesting further upward momentum.
Ethereum is heating up — here’s what just happened:$ETH just reclaimed a $345B market cap and broke out of weeks of consolidation. The Wyckoff reaccumulation pattern is holding momentum is building fast.
— ALexia (@Alex1i9) June 12, 2025
Meanwhile,a whale who made $30.45M profit on ETH just bought back 16.5K… pic.twitter.com/iMMbQR6dUG
Moreover, a notable whale investor who previously profited $30.45 million from ETH has re-entered the market, acquiring 16,500 ETH. This move adds further weight to the idea that smart money is betting on Ethereum’s continued rise.
Short-Term Indicators Signal Cooling
Despite the long-term optimism, short-term technicals show a potential slowdown.As of press time, Ethereum trades at $2,727.99, reflecting a 1.86% decline in the last 24 hours. Nonetheless, it has posted a 4.61% gain over the past week, indicating that the uptrend remains intact, though slightly weakened.
The MACD recently signaled a bearish crossover, which may suggest a short-term correction or sideways consolidation. Meanwhile, the RSI sits around 58, down from earlier 2025 highs near 80. This means Ethereum is no longer in overbought territory but still maintains healthy momentum.
Liquidations, Exchange Activity, and What Lies Ahead
Significantly, Ethereum has faced $85.6 million in total liquidations over the past 24 hours, with Bybit leading the exchanges in volume. Long positions took a harder hit than shorts, indicating aggressive bulls may be overextending themselves during brief price corrections.
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