Ethereum is nearing $2,000 after a 10% rally this week. But how long can it last? ETH has broken above the descending trendline that capped every recovery since its all-time high, while futures open interest has returned to nearly $20 billion. The derivatives market is heavily bullish. Shorts made up 96% of recent ETH liquidations, helping accelerate the rally. Rising open interest alongside price also suggests traders are adding fresh positions rather than simply closing shorts. But that creates a risk. Leverage is leading the move.
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