For the first time since April 2023, the broadcast reached 40% of the open interest in the derivatives market, while the dominance of bitcoin demonstrates a decrease, the Glassnode platform analysts said.

The volume of open positions on the exchange Cme
reached a record $ 7.85 billion – this indicates a change in moods among speculators and flowing from bitcoin capital, Glassnode experts are sure.

Historically, such changes indicate the beginning of the altcoin season, and increasing open interest is due to favorable macroeconomic conditions and high demand among large corporations, analysts said.

Over the past weeks in ETH–ETF Over $ 5 billion was received, and ether is increasingly considered as the basis of onchain-financial infrastructure. The stability of the asset against the background of market fluctuations and leadership in the transition of funds from bitcoin to altcoin will help him preserve the bull trend, according to Glassnode.

Earlier, the investment director of Bitwise, Matt Hawgan, said that the main reason for the growth of the air is the large influx of capital to exchange funds and the emergence of large companies buying the asset for the sake of stakeing.