$BTC #ЕТН Matrixport: Traders are losing interest in Ethereum amid falling prices.
At Matrixport, it is believed that traders have started to close their positions in Ethereum due to macroeconomic uncertainty caused by the tight monetary policy of the U.S. Federal Reserve and trade wars.
"Despite Trump's recent post about a possible creation of a strategic reserve and the upcoming crypto summit at the White House scheduled for March 7, the market remains in risk-off mode — participants are reducing their exposure," the analysts stated.
In their opinion, open interest in Ethereum has returned to levels seen in the summer of 2024. Until there is a lull in the financial markets, traders will not reopen short positions in cryptocurrency.
Earlier, analysts from one of the largest American banks, JPMorgan, stated that the situation in the cryptocurrency market is worsening due to the decline in demand from major investors for Bitcoin and Ethereum futures listed on the Chicago Mercantile Exchange (CME).
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