Binance Warns of Ethereum Leverage Reset to 2025 Levels

crypthub

6/10/2026, 4:10:55 AM

Derivatives Market Reset and Weakening Conviction

The market's weakness is highlighted by a massive unwinding of leveraged exposure across major exchanges. Open Interest on key venues like Gate.io and Bybit has returned to levels seen in April 2025. This signals the clearing of more than a year of accrued leverage in a compressed timeframe. Furthermore, negative funding rates confirm that remaining futures activity lacks bullish conviction.

Ethereum Price Action and Structural Breakdown

Ethereum's price has fallen significantly, breaking below previous weekly lows and key support levels. The descent invalidates the broad trading range that contained ETH throughout 2026. Structurally, the market shows clear lower highs and lower lows, confirming a bearish trend. ETH is now trading below all major weekly moving averages, reinforcing the prevailing downtrend.

Technical Support and Future Outlook

The recent low near $1,500 currently represents the most critical short-term support level for the asset. If buyers can defend this area, an attempt to build a base toward $1,800 is possible. However, a decisive weekly close below these recent lows warns of a deeper correction. This scenario would extend the bearish trend toward the $1,300–$1,400 range.