ETH’s recent rally was driven by spot demand and a healthy use of futures market leverage, potentially setting Ether up for a follow-up move to $4,000.
Ether’s (ETH) futures and spot markets are sending mixed signals as futures positioning builds, but the altcoin’s price fails to make new highs. Data suggested that ETH traders are adding to their exposure even as spot buying underpins the recovery.
Key takeaways:
Ether’s estimated leverage ratio fell from an all-time high of 0.79 on Jan. 2 to 0.67 by Jan. 11, despite rising open interest.
