Is Ethereum on the verge of collapse? Record open interest is alarming experts

In recent days, Ethereum (ETH) has demonstrated an impressive rise, but experienced traders are already sounding the alarm. The reason? The open interest in ETH futures has reached a historical maximum, and this often foreshadows a sharp fall in price.

On October 15, the price of Ethereum jumped by 8.8%, reaching $2,650. It seemed like a reason to rejoice. But not so fast! Literally the next day, the open interest on ETH futures surpassed the psychological milestone of 5 million ETH. This is an absolute record in the entire history of cryptocurrency.

Let's remember the recent past. On August 2 of this year, open interest in ETH reached a local peak of 4.75 million. What happened next? Right, a crash! In four days, the price of Ethereum plummeted by 31.7% — from $3,205 to $2,186.#ETH