From $ETH #ETH 's open interest, it actually moves in exactly the opposite direction of $BTC #BTC .

But there is a highlight — ETH's open interest has surged to a nearly one-year high! 📈

What does this indicate? It indicates that there is a significant divergence in the market regarding ETH; some are bullish, while others are firmly bearish, and the sentiment is very polarized ⚔️.

Moreover, it's important to note ⚠️:

If this contract volume surges sharply, combined with excessive leverage, a strong consensus direction, and significant market fluctuations, then the risk can be considerable — it could easily lead to a "liquidation cascade"! 💥

So with the current ETH, it's not just about the direction; one must also pay attention to the underlying contract game, and the rhythm must be well controlled ～ ⏱️