Ethereum Futures Just Hit A Binance Record: Are Traders Calling The Bottom?
Ethereum derivatives trading on Binance has reached a new high in ETH terms, with open interest climbing to nearly 3.7 million ETH. This comes after Ethereum’s steep price decline of about 67% from its all-time high, even as macro uncertainty and US-Iran tensions keep broader risk appetite weak. The rise suggests traders are rebuilding speculative exposure despite the weak spot price. Binance now accounts for over 44% of total Ethereum open interest, highlighting its dominance in ETH futures. Flow data also shows a mild shift toward buyers: Binance’s weekly average taker buy/sell ratio improved from 0.95 to 1.0, indicating that selling pressure has eased after months of seller dominance. Still, the setup remains fragile, since rising open interest can magnify volatility and increase the risk of forced liquidations if Ethereum fails to hold key support. ETH was trading around $1,658 at the time.
