Ether's price fell this week, but traders added to their bets in coin terms.
📌 What happened
Per CryptoSlate, $ETH open interest on Binance's ETHUSDT contract rose 2.27% in ETH terms between October 6 and 8, to about 2.33 million ETH. Over the same window its dollar value fell 6.58%, to about 5.77 billion USDT.
🔍 Why it matters
• The smaller dollar figure comes mostly from repricing, not from traders closing positions
• Bitcoin's book shrank in coin terms over the same window, down 1.45%, so ether saw more fresh positioning
• Funding on both contracts was positive at the latest settlement, meaning longs were paying shorts
👀 What to watch
• Whether this added exposure meets more selling; ETH was the biggest liquidation bucket this week at about $345 million, per CoinDesk
• The counterpoint: open interest shows size, not how close those positions sit to liquidation, so it can't tell you how fragile they are
💬 Does rising open interest during a dip look like conviction or crowding to you?
#Ethereum #Derivatives
📌 What happened
Per CryptoSlate, $ETH open interest on Binance's ETHUSDT contract rose 2.27% in ETH terms between October 6 and 8, to about 2.33 million ETH. Over the same window its dollar value fell 6.58%, to about 5.77 billion USDT.
🔍 Why it matters
• The smaller dollar figure comes mostly from repricing, not from traders closing positions
• Bitcoin's book shrank in coin terms over the same window, down 1.45%, so ether saw more fresh positioning
• Funding on both contracts was positive at the latest settlement, meaning longs were paying shorts
👀 What to watch
• Whether this added exposure meets more selling; ETH was the biggest liquidation bucket this week at about $345 million, per CoinDesk
• The counterpoint: open interest shows size, not how close those positions sit to liquidation, so it can't tell you how fragile they are
💬 Does rising open interest during a dip look like conviction or crowding to you?
#Ethereum #Derivatives