#AltSeasonComing

The dominance of open interest for $ETH reached almost 40% — the highest level since April 2023. This was stated by Glassnode.

According to experts, such a figure has been exceeded in the market's history only in 5% of cases. They indicate that this may signal a change in sentiment among speculators and a shift of capital from Bitcoin to Ethereum.

The analyst noted that on the CME exchange, the volume of open positions in Ethereum futures in July reached a record mark — $7.85 billion. According to him, the share of $BTC in the market structure decreased from a peak of 65.1% to 61.1%. Historically, such changes have often indicated the beginning of an altseason, he added.