Ethereum Open Interest Jumps 18%, Bull Trap Signal?

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ethereum's futures market activity expanded as the ETH price rose, with open interest rising more than 18%. Advertisement According to Maartunn , Ethereum open interest has gained more than 18%, leading all growth among major cryptocurrencies. ETH: Open Interest +18.4%.. 🤔 Could we please execute a single pump without excessive leverage building up? pic.twitter.com/unBWP49OX9 — Maartunn (@JA_Maartun) March 16, 2026 As seen on the CoinGlass website , open interest in ETH futures rose 19.15% to $33.37 billion. Total futures open interest across various cryptocurrencies increased 9.43% in the last 24 hours to $113.78 billion, a sign of increased risk-taking on the market. Advertisement The growth in OI on most major cryptocurrencies comes with positive perpetual funding rates and cumulative volume deltas. This setup indicates increasing demand for bullish leveraged plays. HOT Stories Cardano (ADA) Recovery More Than Possible Now: 150% Volume Increase -93% for XRP Price Unlikely: Ripple CTO Emeritus, Shiba Inu (SHIB) Activates 37% Upside Scenario, Most Bitcoin Analysts Strongly Bullish: Morning Crypto Report You Might Also Like Mon, 03/16/2026 - 12:56 Ethereum's Breakout Marks Altseason's Start, Hints Macroeconomist Henrik Zeberg By Yuri Molchan On Deribit, however, puts tied to Ethereum continue to trade pricier than calls across all time frames, which might indicate continued desire by traders to hedge against downside risks irrespective of the market rebound. Advertisement Bull trap signal? Ethereum rose for seven consecutive days from March 9 and is set to mark its eighth day if today closes in green. You Might Also Like Mon, 02/02/2026 - 14:43 Ethereum Enters Historic Support Zone Amid $818 Million Market Drop, What's Next? By Tomiwabold Olajide At the time of writing, ETH was up 7% in the last 24 hours to $2,299 amid a broader rise in the market that has seen altcoins outperform Bitcoin, with some posting double-digit gains. The recovery on the market had a short squeeze behind it. CoinGlass data shows $398 million in total liquidations over the past 24 hours across 96,385 traders, with short liquidations accounting for the majority at $320 million. Ethereum shorts were hit hardest at $141 million. If buyers do not allow the ETH price to return below $2,036, it boosts the chances of a rise toward $2,600. Ethereum bulls appear to be targeting $2,800 as their next stop, but ETH futures data shows a divided market, with limited odds for a sustained 33% rally. If the price drops from current levels, Ethereum may continue in sideways trading between $1,750 and $2,200 for some time. #Ethereum News #Ethereum Price Prediction #Ethereum