Ethereum has reached a record high in open interest, hitting $17 billion. This surge is particularly significant as the price of ETH recently climbed back over $3,500, its highest since July 2024. The recent performance signifies a turnaround in Ethereum’s market activities. Traders are now analyzing whether this represents a bullish trend or could lead to bearish pressures in the near future. The crypto community is buzzing with speculation, pondering the implications of this high open interest on Ethereum’s price stability and growth potential. As the landscape shifts, attention must focus on how these developments will affect investor sentiment moving forward. Will Ethereum maintain this upward trajectory or face challenges ahead?