Ethereum is holding near $2,500 on Wednesday, but traders are not chasing the price with borrowed money. The coin has tried several times to build a recovery above $2,500, yet each push has met selling near the same zone.
New derivatives data explains the caution. CryptoQuant figures reported this morning put Ethereum's Estimated Leverage Ratio at about 0.62, its lowest reading since November 2025. Open interest has also been falling, which means recent price moves have attracted very little fresh leveraged buying.
Other signs point the same way. Net Taker Volume in Ethereum futures has stayed negative, showing market selling outweighing market buying, and the Coinbase Premium Index dropped to about -0.117, its weakest level since August 10. That discount suggests demand from US buyers is still soft.
The fund picture is slowly improving but remains fragile. US spot Ethereum ETFs lost roughly $542 million in the week ending October 9 during a long run of outflows, before flows finally turned green on October 13 and ended that streak. One day of inflows, however, has not been enough to bring leveraged traders back.
For traders, the key levels are clear. Resistance sits near $2,548 to $2,580, and a strong close above that zone could open the way toward $2,600 and higher. On the downside, support is near $2,413 to $2,435, and losing it would put the recent lows back in focus, especially with US inflation data due today.
Lower leverage is not all bad news. It means there are fewer crowded bets that could turn into a cascade of liquidations. But it also shows a market without conviction: until either ETF money returns in size or leverage starts rising with price, Ethereum may keep trading sideways in a tight range.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Invezz, crypto.news, CoinEdition
Comments
Post a Comment