Ethereum (ETH) price is capturing fresh institutional attention as futures open interest rockets to a yearly high of $36.56 billion, signaling bold bets on the crypto giantโs next major move.
With ETHโs price rebounding above $2,600 and hovering near a crucial multi-year resistance level, investors are eyeing a potential breakout that could define the assetโs trajectory for months to come.
ETH Futures Open Interest Hits Yearly Highs
Open interest on Ethereum (ETH) futures is surging to new yearly highs, signaling a wave of speculative activity and heightened institutional participation.
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According to CoinGlass data, ETH futures open interest has jumped sharply over the past three days, climbing to $36.56 billion on Monday, June 16.
This surge reflects a significant increase in leveraged futures positions, suggesting traders are placing bold bets on Ethereumโs next big move.
ETH Price Tests Important Resistance
Ethereum (ETH) has rebounded by around 4.5%, climbing from $2,500 to $2,625, and is now trading near $2,627. The price surge reinforces growing bullish sentiment, but ETH remains at a critical technical crossroads.
For over a month, ETH has been moving sideways just beneath a multi-year descending triangle resistance, specifically at the lower trendline, a level closely watched by institutional investors. Analysts note this area is seeing significant institutional accumulation.
According to them, if the ETH price manages to break through this multi-year resistance line, this would be very bullish for Ethereum.ย
However, ETH now sits just above the 200-week moving average, while resistance looms at the 50-week MA and the triangleโs lower trendline. This suggests the market may need more time to consolidate before a decisive breakout can occur.
Momentum indicators, such as MACD and RSI, remain supportive on the weekly timeframe. However, relatively low trading volume suggests that the move may require stronger conviction from bulls to carry forward.
Ethereum ETFs See Brief Outflow
On the other hand, U.S.-based Ethereum spot ETFs experienced their first net outflow in 19 days, totaling $2.18 million.
However, overall institutional sentiment remains positive. According to SoSoValue data, Weekly net inflows to U.S.-based Ethereum ETFs reached $528.12 million, pushing total net assets above $10.03 billion, the highest level since early February.
At the same time, asset managers like BlackRock and Fidelity are actively expanding Ethereumโs financial ecosystem by launching tokenized treasury products and stablecoin-backed funds.
Why This Matters
The rising activity in Ethereum futures and ETFs signals strong institutional confidence in the ETHโs long-term prospects. With major players like BlackRock and Fidelity expanding tokenized products, Ethereum is solidifying its role as a key blockchain for real-world assets and future growth.
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People Also Ask:
Open interest refers to the total value of outstanding futures contracts on Ethereum (ETH) that have not been settled, indicating the level of trader participation.
Increasing open interest suggests growing speculative activity and institutional interest, which can signal potential price movements or market trends.
This resistance level is a technical barrier that, if broken, could trigger a strong upward price movement and signal bullish momentum.
ETFs offer a regulated means for institutions and retail investors to gain exposure to Ethereum (ETH), and inflows typically reflect positive investor sentiment.
