According to CryptoQuant’s Research Manager Julio Moreno, Ethereum The derivatives market is showing signs of renewed optimism, with the 30-day moving average of the forward funding rate showing a shift towards an upward trend.
CryptoQuant Analyst Claims More and More Long Positions Are Being Opened in the Futures Market for Ethereum
This increase, according to the analyst, indicates that investors are increasingly opening long positions in Ethereum’s perpetual futures market, a development that has historically been tied to higher price expectations.
“Positive and rising funding rates generally reflect traders’ willingness to invest on future price increases,” Moreno said in an interview. However, he cautioned that while the increase in the funding rate is a positive sign, it does not guarantee a sustainable price increase for ETH. “The increase in the 30-day funding rate moving average is encouraging, but this is only one factor to consider,” he added.
Coinglass’ data also points to an increasing trend in Ethereum’s open interest-weighted funding rate, which has been on the rise since the FED’s decision to cut interest rates by 50 basis points on September 18. Currently, this rate stands at 0.0061%, indicating increasing optimism among traders.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/ethereum-fiyatinda-hareketlilik-basladi-analiz-sirketi-ethyi-degerlendirdi/
