1 month ago
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Following a sharp flush out in early June, leverage is quietly returning to the market. However, unlike previous speculative peaks, this rebuilding phase is characterized by localized aggressive positioning rather than market-wide exhaustion. For institutional allocators and structural traders, understanding this uneven recovery is critical to timing the next macro move.
Key Takeaways
- ETH funding rates hit 0.016% despite lower prices.
- Total open interest sits at $4.35B, avoiding overheating.
- Bullish conviction rebuilds with ETH 15-20% below peaks.
Conviction Leading Price
The first clear signal of returning bullish sentiment shows up in funding rates, the periodic fee paid between long and short traders to keep perpetual contract prices pegged to the spot index.
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