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>>Ethereum open interest decreased by 25%, drawing attention to the $1,500 support level.

Ethereum open interest decreased by 25%, drawing attention to the $1,500 support level.

crypthub

6/10/2026, 6:50:27 AM

Derivatives Market Contraction

Ethereum's futures open interest has seen a notable decline of 25% since May. Total ETH futures open interest dropped significantly, with major platforms like Gate.io and Bybit showing comparable reductions. This contraction indicates that a substantial amount of leveraged positioning has been cleared from the market. Furthermore, approximately 480,000 ETH has departed major exchanges recently.

Current Price Weakness and Indicators

Ethereum has lost roughly 12% over the past seven days, struggling against macroeconomic uncertainty. The daily chart shows the price trading beneath multiple key exponential moving averages. Momentum indicators have entered deeply oversold territory, signaling heavy selling pressure. Market attention remains focused on the critical $1,500 support level for the cryptocurrency.

Macroeconomic Focus and Key Support

Traders are awaiting the US Consumer Price Index report, which weighs heavily on risk assets. A hotter inflation reading could increase pressure on ETH, prompting investors to favor short-dated Treasuries. Analysts emphasize that holding above $1,500 is vital, as a sustained break below this level could target support near $1,000.