Ether futures open interest hits 20-month high, but demand for leverage stays balanced
The price of Ether surged 11.7% between 17 September and 19 September, reaching a three-week high of $2,572. This price action coincided with a rise in open interest in ethereum futures, which jumped to a 20-month high. As a result, traders are starting to worry that increased leverage could amplify potential price volatility. Lower interest rates favour bullish momentum for ETH, but risks remain in the US economy. The recent rise in ETH prices has echoed an 8.3% rise in the cryptocurrency market as a whole, thanks to US interest rate cuts and strong labour market data. This momentum also pushed the S&P 500 to a new all-time high on 19 September. Lower interest rates have reduced the cost for companies to issue new debt, easing concerns about a potential pullback in the stock market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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