ETH open interest falls to 3-year low: What does it mean for Ether price?

Ethereum's open interest has dropped to a three-year low, indicating a decrease in the number of outstanding derivative contracts for Ether. This decline suggests reduced investor confidence and could signal a bearish sentiment in the market. Analysts believe that lower open interest may lead to increased price volatility for Ether in the near future. The drop in open interest is also seen as a reflection of broader market trends affecting cryptocurrencies. Overall, this situation raises concerns about potential price movements for Ether as traders reassess their positions.

Read the full article: Coin Telegraph