⚡ ETH Futures Surge While Spot Market Hits the Brakes! 🪙🧐

According to on-chain analytics startup CryptoQuant, the futures market is driving Ethereum's recent price increase. Avocado Onchain reported that leverage-heavy futures positions rather than spot market purchases are driving ETH's rise.

This divergence casts doubt on the rally's longevity and spot buyer desire. Avocado noted in his QuickTake analysis “Ethereum’s Rally Driven by Futures Market — Will Spot Demand Follow?” that the Ethereum Futures Volume Bubble Map is showing overheating in some zones with rising volumes.

Leveraged bets are likely behind this surge in futures volume, highlighted by yellow circles on the map, and ETH's price increases.

However, spot market data indicates relative stability with no volume rise, indicating typical investor purchasing pressure has yet to catch up.

The analyst also noted that Ethereum's Open Interest (OI) in futures has hit record highs, supporting the speculative character of the current trend.

Avocado wonders if futures market momentum will be matched by spot market demand. He said that such demand might boost altcoin market activity.

The uncommon premium follows a pattern of capital inflows into Ethereum-focused spot ETFs, which have achieved record daily highs.

While present data do not imply overheating, Dan warned investors of possible hazards if strong rising activity repeats in the second half of 2025.

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