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ЁЯУК Ethereum Futures and Options Update (2025)
тЬЕ Strong Open Interest of $33 billion in Ethereum Futures
Total Open Interest (OI) in Ethereum Futures remained stable at $33.09 billion (13.29 million ETH), indicating strong investor participation.
CME Group led with $3.19 billion (9.64% market share) and Binance with $6.26 billion (18.9%).
However, there was a 2.79% decline in total OI in the last 24 hours. A decrease of 17.37% in KuCoin and 6.27% in OKX was observed.
The ratio of OI to daily volume was 0.6366, indicating moderate trading activity.
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ЁЯУИ A glimpse of long-term bullish sentiment in Ethereum options
Call options (right to buy) dominate the options market тАУ 65.87% of total open options are calls (1,717,477 ETH).
Major call options:
December 25, 2025 $6,000 call
July 25, 2025 $3,000 call
тЮбя╕П This suggests that investors expect Ethereum to grow in the long term.
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тЪая╕П However... the increase in put options trading volume raises a warning
The share of put options (right to sell) in the 24-hour trading volume was 55.58% (527,705 ETH), indicating that:
Some investors are hedging against the possibility of a decline in the near future.
Or are adopting a short-term bearish strategy.
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ЁЯУМ What does the data say?
Indicators Meaning
ЁЯФ╡ Futures OI Big but slightly declining market
ЁЯЯв Options OI Long-term bullish тАУ especially due to the $6,000 call for Dec 2025
ЁЯФ┤ Put Volume > Call Volume Caution and hedging strategy in the near future
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тЬЕ Conclusion (Objective Summary)
Long-term outlook: Bullish (More Call OI)
Short-term signals: Cautious steps (More put trading)
Thus, the market cannot be said to be fully bullish.
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