Ethereum: Triple Bullish Combination — Demand, Leverage, and Shortage
🔼 The ETH market has formed a structure where three key factors are simultaneously working in favor of growth: active spot purchases, record open interest, and minimal reserves on exchanges.
🟠 Spot — the Spot Taker CVD indicator has recorded the dominance of market buy orders for three consecutive months. This is a systematic accumulation that has raised the price of ETH from ~$2,000 to >$4,000.
🟠 Open Interest — $29 billion, close to historical highs. The influx of capital into derivatives indicates traders' confidence in the continuation of the trend, but increases the risk of sharp liquidations when sentiment changes.
🟠 Exchange Reserves — have fallen to ~18.38 million ETH, the lowest in a year. The movement of coins into cold wallets, staking, and DeFi reduces the liquid supply, intensifying the shortage.
When demand rises, leverage increases, and supply decreases — this is one of the strongest bullish patterns for ETH. Historically, such periods have become prologues to large rallies. But it's important to monitor for overheating: if funding and OI continue to rise without price movement, this is a signal of a possible correction.
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