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Determining why long liquidations might be huge in case price retraces in favor of the bears.experienced renewed attention this week, and nowhere is that more apparent than in its Open Interest. This comes amid the resurgence of bullish activity during the weekend.
The surge in Open Interest aligns with ETH’s growing appetite for leverage. The Ethereum estimated leverage ratio also achieved a sharp uptick in the last 24 hours, and it managed to push closer to its 2024 highs.The estimated leverage ratio’s uptick, combined with rising Open Interest, suggested that there was strong activity in the derivatives market.Is Ethereum headed for more liquidation?
There is a significant probability that Ethereum could experience a surge in sell pressure, especially if it pushes into the $2,700 range.
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