ETH futures volume reached $104.2B vs BTC’s $67.5B
ETH open interest jumped 6%, showing new long positions
Market setup is bullish with no signs of overheating
Ethereum Leads Futures Market in Fresh Bullish Signal
Ethereum has overtaken Bitcoin once again in futures trading volume—a key metric of market activity and speculative interest. Over the past 24 hours, ETH futures hit $104.2 billion, compared to $67.5 billion for Bitcoin, making Ethereum’s volume nearly 1.5 times higher.
This isn’t the first time Ethereum futures have flipped Bitcoin, but the consistency and scale are catching the attention of traders and analysts alike. When Ethereum leads in futures volume, it often signals a rising appetite for higher risk and potential upside.
Open Interest Points to Fresh Positions
Accompanying this surge in volume is a 6% rise in Ethereum’s open interest (OI). This metric indicates that traders are opening new positions, rather than simply shifting funds or closing out trades. It reflects confidence in Ethereum’s near-term potential, and often precedes strong price moves.
What’s key here is the context—this is happening without obvious signs of market overheating. Leverage levels remain moderate, and there’s no surge in liquidation events, which suggests this rise is healthy and sustainable, not driven by hype or excessive risk.
$ETH futures flipped $BTC again – $104.2B vs $67.5B in 24h volume, nearly 1.5x higher.#ETH Open Interest rose 6% in the same period, pointing to fresh positioning.
This setup leans bullish: strong speculative interest, rising OI, and no signs of overheating yet. pic.twitter.com/vj7sIRznmw
— glassnode (@glassnode) July 17, 2025
A Bullish Setup Is Building
This combination—rising ETH futures volume, increasing open interest, and calm market conditions—paints a clear bullish picture. It suggests Ethereum is building momentum in a controlled, organic way rather than through sudden hype.
If this trend continues, Ethereum could be setting up for a significant price breakout, especially as investor focus sharpens around key developments like ETF approvals and broader altcoin strength.
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