Trader focus is shifting, causing one rare opportunity when Ethereum futures activity outweighs BTC. Trade has shown a shift in sentiment, beating ETH’s streak and being considered a poorly performed asset.
Trader Focus is shifting towards Ethereum as ETH futures overtake Bitcoin. BTC quickly returned to the spot as a leader, but the increase in trading indicates the possibility of estimation shifts and trader rotation.
#ethereum just flipped #bitcoin with a 24-hour futures volume: $62.1b vs $61.7b!
It is rare and shows potential rotations of the trader focus and potential rotations that lie ahead of the possible $ETH-specific catalysts. pic.twitter.com/34xlbzgimq– GlassNode (@GlassNode) July 10, 2025
Based on GlassNode dataETH futures expanded to $62.1 billion in 24 hours, while BTC reached $61.7 billion. ETH volume quickly slowed to $61.7 billion, but behind BTC. Liquidation Also, Ethereum was more active, based on current trader positioning.
ETH’s spot volume is approximately $28 billion per day, with BTC of $4 billion. The major coins still dominate the market, with over $34 billion in profits and around $18 billion for ETH. While BTC’s open interest remained largely unchanged, ETH’s position has almost doubled from its recent low, indicating that traders have not surrendered.
Eth recovers $2,800, but still can’t make a big move
The next steps in Ethereum may include chain-specific factors, particularly Defi growth and Stablecoin traffic. For now, ETH has managed to surpass $2,800, but has yet to show any additional strength to surpass $3,000.
ETH traded for $2,777.40 after a step back. Over the past week, ETH has recovered against BTC, rising to 0.025 BTC. However, in previous years, ETH has lost 29% of its value to BTC.
Emotional changes may predict a reversal of the trend of increasing ETH activity to elicit more dramatic price movements. One potential scenario involves earning against BTC or hiking to the $3,000 or $4,000 level.
However, ETH now sees most of its derivative liquidity in its advantages, starting at around $2,600. Recent gatherings could be reversed to settle these positions. Based on traders positioning In Binance, ETH has mainly completed the liquidation of long positions.
In the last 24 hours, traders have been liquidated in short positions for $157.9 million. Following a massive daily liquidation event, traders were to attack long positions.
Ethereum may see new purchasing pressure
Until recently, ETH has been reduced due to sales pressure from whales and sales pressure from greyscale reserves. Grayscale has recently started Re-accumulation ETH, along with other funds.
ETH also accumulates in whale wallets with over 10,000 tokens. Mega-Whale’s wallet holds ETH over 41m after a slow, almost invisible buildup for several months. Around it 30% ETH supply is betted on beacon chain contracts.
Ethereum follows a similar path to BTC and is accumulated in the corporate Treasury Department. In any case, ETH is valuable and is considered a central chain of decentralized finance and stable rocks.
Expectations for the ETH rally could wake up the altcoin and bring a breakout season in the second half of 2025.
The Ethereum story also abandons recent surrender and expectations that the chain will be useless and abandoned. Ethereum still remains a debt leader, covering the losses of meme tokens, gaming tokens and other web3 trends from the bull market in 2021.
