Feb 5, 2025
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Ethereum Futures Market Experiences $76.4M Long Liquidations
Glassnode reports that the Ethereum futures market remains overheated despite recent long liquidations. Key points include:
- Ethereum open interest is significantly above the yearly average.
- Ethereum experienced $76.4M in long liquidations, with $55.8M occurring within one hour, marking a near record event.
- Open interest decreased from $20.5 billion to $15.9 billion after the liquidation, indicating a $4.6 billion reduction in positions.
- The current open interest is 22% higher than the 365-day moving average of $13 billion.
- ETH price crashed to around $2,100 but has since rebounded to approximately $2,800.
This suggests ongoing high leverage in the market, potentially leading to further volatility for ETH.
