$ETH surge is the result of a perfect storm: leveraged longs drove a 40% jump in open interest, strong spot buying pushed daily volumes to $15–18B, and a spike in funding rates led to over $85M in short liquidations. News cycles and social media amplified the “pump” narrative, reinforcing bullish momentum.
Curious to explore the on-chain flows and whether sentiment can stay this hot?
Technical indicators are still trending upward—MACD and RSI are both confirming the move. But caution is warranted: if open interest becomes overcrowded or spot inflows lose steam, a shakeout could follow. Stay agile—crowded longs can unwind quickly if the bullish narrative falters.