$ETH’s rebound looks stronger on the chart than it does in the positioning.
On #Binance , ETHUSDT is up 3.68% over 24 hours, but open interest is down 0.9%. Over the same window, short liquidations reached $29.45M versus $6.46M in longs, while taker buys were only 51.74% and funding stayed modest at +0.004648%.
That mix points to a rebound driven partly by shorts being forced out and positions being cleaned up, not a wave of fresh leverage.
The next test is simple: can $ETH hold after the short-liquidation fuel fades? A steadier #OI base and continued buyer flow would be better confirmation than another fast green candle.
On #Binance , ETHUSDT is up 3.68% over 24 hours, but open interest is down 0.9%. Over the same window, short liquidations reached $29.45M versus $6.46M in longs, while taker buys were only 51.74% and funding stayed modest at +0.004648%.
That mix points to a rebound driven partly by shorts being forced out and positions being cleaned up, not a wave of fresh leverage.
The next test is simple: can $ETH hold after the short-liquidation fuel fades? A steadier #OI base and continued buyer flow would be better confirmation than another fast green candle.