Markets· ★★★· bearish·

Ethereum open interest drops 11.7% to lowest level since June 2026

  • —ETH derivatives open interest fell to 12.49 million coins, down 1.46 million ETH from early July
  • —Aggregate ETH contract open interest dropped 7.53% in one session in early October to about $31.8 billion
  • —Funding rates on some exchanges turned negative, meaning bears are paying to hold positions
  • —ETH is consolidating in a narrow $2,600–$2,800 band with spot activity outweighing derivatives
Why it matters: Lower leverage reduces forced-liquidation risk, but negative funding signals traders expect further ETH declines.
#ETH
Source: Crypto Briefing
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