A few weeks back, the crypto market seemed to be dominated by derivatives for both Bitcoin and Ethereum. Additionally, during the past few months, the leverage in Ethereum (ELR) has increased to such high levels which are unheard of (The OI increases too).
This showed investors & traders were taking an extra risk in their positions.
Positive Impact on ETH Price
All of these caused Ethereum to rise by almost 30% over the past month. The Funding Rate also revealed that the majority of investors were long on Ethereum.
Tides Might Turn
However, the leverage and the passion reflected in the funding are currently beginning to decline. This can mean that investors who were at first willing to take significant risks have already made the decision to progressively close their positions. The long-term pressure from туунду appears to be starting to lessen.
At the time of writing, the Ethereum price is $1,559.29 USD with a 24-hour trading volume of $13,427,764,204 USD. Ethereum is down 0.90% in the last 24 hours & down by 66% in the one-year timeframe.
Сунушталган мазмун автордун жеке пикирин камтышы мүмкүн жана базар шартына ылайык. Криптовалютага инвестиция салуудан мурун, базарыңызды изилдеңиз. Сиздин жеке материалдык чыгымыңыз үчүн автор же басылма эч кандай жоопкерчилик тартпайт.
Source: https://coingape.com/slump-ethereum-derivatives-signals-price-action-short-term/