#ETH突破4000 $ETH

Futures are overheated, but spot market is "supporting"; downside potential may be limited.

Recently, CME Ethereum futures open interest hit a new high of $7.85 billion. On Coinwings, 170 whale addresses have accumulated 1.7 million ETH. Institutions are continuing to increase positions through ETFs. This "buying support" from the spot market may mitigate the extent of the pullback, reducing the likelihood of a deep decline (below $3,500).

Coinwings AI monitoring shows intense long-short competition, but the long-term bullish consensus remains intact.