Ethereum Open Interest Lower Than Bitcoin..."Not the Market Peak"

Ethereum (ETH) open interest (OI) is recorded at a lower level than Bitcoin (BTC), with claims emerging that the market has not yet peaked.

On the 28th (local time), ElCryptoTabo, a cryptocurrency analyst, stated in a report, "The correlation between Ethereum's open interest share and the overall cryptocurrency market peak is very high," adding, "The market is likely to reach its peak when Ethereum's open interest surpasses Bitcoin's open interest size." He further noted, "Currently, Ethereum's open interest is at a stable level, suggesting that the market is not yet at its peak."

Additionally, he elaborated that the frequency of spot trading by general investors also supports this. ElCryptoTabo mentioned, "At the peak of market cycles, the frequency of spot trading by general investors increases noticeably," and "Currently, the trading volume of general investors is at a low level, supporting the notion that it is not the market peak."

As of 3:41 PM, Bitcoin is trading at $108,741 on the Binance USDT market, down 0.37% from 24 hours ago.