Divergence Between Binance's ETH Open Interest and ETH Price:
* While ETH price has recently printed a higher low—indicating bullish strength—the open interest has charted a lower low.
* This technical divergence suggests a decoupling between market valuation and derivatives positioning.
* This divergence could stem from excessive derivative position closures or reduced leveraged exposure, as traders de-risk.
* Such behavior often stabilizes funding rates near neutral levels, reducing speculative pressure and potentially setting the stage for a healthier, more sustainable price rally.
$2 Billion USDT Minted on Ethereum: Fresh Dry Powder:
* On July 24, Tether Treasury minted $2 billion USDT in a single transaction on the Ethereum network.
* This "dry powder" — a term referring to readily deployable capital — significantly enhances purchasing power for digital assets.
Large-scale USDT minting often follows institutional buying sprees or market-making activities, helping to provide liquidity and maintain price stability.
* Historically, such events have acted as bullish catalysts, as they signal preparedness for large acquisitions or hedging strategies.
Over 244K ETH Withdrawn from Coinbase in a Single Day:
* On July 25, over 244,000 ETH, worth more than $900 million, was withdrawn from Coinbase.
* This is one of the most significant single-day outflows seen in recent months and is often interpreted as a strong bullish signal.
* Large ETH withdrawals from centralized exchanges are typically associated with long-term holding strategies.
* This suggests that the withdrawn ETH is unlikely to re-enter the market in the near term, tightening liquid supply.
Conclusion:
The convergence of these factors and institutional interest growing, the crypto market, led by ETH, may be poised for a renewed bullish phase.
Investors should monitor derivatives activity, stablecoin flows, and exchange reserves for confirmation of sustained momentum.
Written by Amr Taha
