Odaily Planet Daily reports that Matrixport released today's chart analysis stating, "Ethereum's funding rate has surged to 13.7%, marking a new high since February this year. This is generally interpreted by the market as a bullish signal, likely to attract more inflows into Ethereum ETFs. However, a more noteworthy sign is that the open interest in futures contracts is approaching the all-time high from December 2024. This indicates that the main driver of the current price rally is not spot buyers but leveraged futures traders. Compared to Bitcoin, which is still dominated by spot demand, Ethereum's trend is showing divergence. Recently, there has been a surge in bullish options buying, combined with gamma hedging effects, putting ETH at a significant risk of a gap-up move. The market is becoming increasingly fragile and sensitive to changes in momentum."

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Odaily Planet Daily News: Matrixport released today's chart analysis stating, "Ethereum's funding rate has surged to 13.7%, reaching a new high since February this year. This is generally interpreted by the market as a bullish signal, likely to attract more inflows into Ethereum ETFs. However, a more noteworthy sign is that the open interest of futures contracts is approaching the historical peak of December 2024. This indicates that the main driver of the current price rally is not spot buyers, but leveraged futures traders.

In contrast to Bitcoin, which is still dominated by spot demand, Ethereum's trend shows divergence. Recently, bullish option buying has surged, combined with the gamma hedging effect, causing ETH to face a significant gap risk. The market is becoming increasingly fragile and sensitive to momentum changes."

Matrixport: This round of ETH price increase is driven by leverage, facing a significant gap-up risk