Ethereum just went through a 2% drop with significant liquidation volume, but Open Interest and ETF capital flow continue to maintain strength underneath, showing strong confidence from major institutions.
ETH price is stagnating around the $3,000 resistance level, but the capital from ETFs and the stability of Open Interest reveal the potential for a breakout in the near future as capital continues to be reallocated from Bitcoin to Ethereum.
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Ethereum dropped 2% but Open Interest remained almost unchanged, demonstrating a solid position in the derivatives market.
ETF capital continues to flow into Ethereum, with a total value nearing $1.1 billion in just a few recent trading days.
Large institutional groups, especially BlackRock, are increasing control of the ETH supply through large purchases.
Is a 2% drop in Ethereum really concerning?
Data from CryptoQuant shows that although ETH dropped 2%, wiping out over $82 million in long positions, Open Interest only slightly decreased by 0.55% from the peak of $43.94 billion. This proves that liquidation pressure has not caused large investors to flee.
Maintaining Open Interest at high levels somewhat reflects the good absorption capacity of market pressure in the short term. History also indicates that periods of stability in Open Interest within attractive price ranges often precede strong recoveries.
Blockchain and data demonstrate stability
For example, in the phase before ETH broke out by 20% in a few weeks, Open Interest maintained stability in the range of $2,450 – $2,640. This was also when ETF capital flow began to increase significantly to nearly $1.1 billion just after 4 trading days, nearly three times compared to the start from July of the previous year.
Ethereum maintains Open Interest at extremely high levels despite short-term price fluctuations, demonstrating the inherent strength of the ecosystem and trust from institutional investors.
Michael Sonnenshein, CEO of Grayscale Investments, 2025
Who currently holds the largest supply of Ethereum?
The concentration of ETH supply among 50 strategic entities has exceeded $4 billion, reaching 1.11% of the total supply. The purchase of 50,970 ETH by BlackRock, approximately $150 million, is a prime example of the buying trend of large institutions at the end of Q2 2025.
Notably, the ETH/BTC ratio has recently recorded two consecutive green candles, indicating that capital is shifting from Bitcoin to Ethereum, especially when Bitcoin struggles around resistance levels.
Source: TradingView (ETH/BTC)
Comparing Open Interest fluctuations between Ethereum and Bitcoin
Ethereum (ETH) Bitcoin (BTC) Open Interest Volatility Index Decrease 0.55% Decrease 3.72% Price fluctuation from peak Relatively stable Decrease 5% from peak $122,000 Capital flow trend Maintain price and increase ETF capital Obvious capital withdrawal
The rising ETH/BTC ratio indicates that capital rotation may be a long-term strategy that institutions are implementing to leverage Ethereum's superior potential.
Jane Boles, Director of Analysis, CryptoQuant, July 2025
What could the future of Ethereum look like based on current signals?
Based on the analysis of on-chain metrics and ETF capital flow, Ethereum appears to be in a strong accumulation phase before a potential breakout above $3,000. The 2% drop is merely a temporary technical adjustment, while top institutions continue to increase their positions.
With concentrated supply and ample liquidity, Ethereum establishing a new record is entirely justified based on market data and the behavior of large institutional investors.
Frequently asked questions
Is a 2% drop in Ethereum a sign of a bad market?
Not entirely. This decrease combined with stable Open Interest demonstrates that liquidation pressure has been well absorbed, reflecting the resilience of this cryptocurrency market.
How does ETF capital flow into Ethereum affect the price?
The continuous inflow of ETF capital, nearing $1.1 billion in just a few days, typically creates demand pressure supporting prices and enhances the long-term investment appeal for ETH.
Who is the most significant controller of Ethereum's supply?
Currently, about 50 large entities hold nearly 1.11% of the ETH supply, with BlackRock being a standout with purchases amounting to hundreds of millions of USD.
Is Bitcoin being surpassed by Ethereum in the derivatives market?
Bitcoin's Open Interest has decreased more sharply than Ethereum's while Bitcoin's price weakens, indicating that Ethereum is playing a central role in attracting capital and is more stable in the derivatives market.
Can the price of Ethereum surpass $3,000 in the near future?
Signals regarding liquidity and institutional positions both support the possibility of breaking above the $3,000 mark, based on current data and in-depth analysis.
Source: https://tintucbitcoin.com/ethereum-3-000-usd-bi-tu-choi/
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