Ethereum Nears ATH as Traders Eye Record High by August 31
- Ethereum is 4% shy of its $4,891 ATH, fueled by strong bullish market sentiment.
- Polymarket bettors see a 76% chance that Ethereum hits new highs before August 31.
- Record $35.5 billion futures open interest could fuel volatile ETH price moves.
Polymarket users are betting heavily on Ethereum reaching new all-time highs before August 31, with the prediction market showing 76% probability for the milestone. ETH trades at $4,670 at press time, positioning the cryptocurrency just 4.4% shy of reclaiming its all-time high.
The optimistic sentiment comes as multiple technical indicators suggest building pressure for an upward breakout. Performance data shows ETH gaining 9.5% in the past 24 hours, with weekly gains reaching 29% and monthly increases hitting 52.6%. The one-year performance stands at 77.8%.
Futures Market Shows Record Leverage Accumulation
Glassnode data revealed that ETH futures open interest has printed a new all-time high of around $35.5 billion. This concentration of leverage across trading venues creates conditions for amplified price movements as positioning builds.
Short sellers have faced pressure, with approxim…
The post Ethereum Nears ATH as Traders Eye Record High by August 31 appeared first on Coin Edition.
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Ethereum Nears ATH as Traders Eye Record High by August 31
- Ethereum is 4% shy of its $4,891 ATH, fueled by strong bullish market sentiment.
- Polymarket bettors see a 76% chance that Ethereum hits new highs before August 31.
- Record $35.5 billion futures open interest could fuel volatile ETH price moves.
Polymarket users are betting heavily on Ethereum reaching new all-time highs before August 31, with the prediction market showing 76% probability for the milestone. ETH trades at $4,670 at press time, positioning the cryptocurrency just 4.4% shy of reclaiming its all-time high.
The optimistic sentiment comes as multiple technical indicators suggest building pressure for an upward breakout. Performance data shows ETH gaining 9.5% in the past 24 hours, with weekly gains reaching 29% and monthly increases hitting 52.6%. The one-year performance stands at 77.8%.
Futures Market Shows Record Leverage Accumulation
Glassnode data revealed that ETH futures open interest has printed a new all-time high of around $35.5 billion. This concentration of leverage across trading venues creates conditions for amplified price movements as positioning builds.
Short sellers have faced pressure, with approxim…
The post Ethereum Nears ATH as Traders Eye Record High by August 31 appeared first on Coin Edition.
Read More