Ethereum Open Interest Climbs 18% as Price Rallies, Raising Bull Trap Concerns

Ethereum's futures open interest has surged by more than 18% while ETH has risen for seven straight days since March 9 and is attempting an eighth green close. With ETH trading around $2,299 and open interest near $33.37 billion, leveraged bullish positioning and relatively expensive put options on Deribit highlight a divided market. Analysts note that holding above $2,036 could open the way toward $2,600–$2,800, while a failure may keep ETH range-bound between $1,750 and $2,200.