TechFlow, December 5 — According to the latest weekly report from Matrix on Target, the current crypto market is in a "position vacuum" state, with overall ETH and BTC positions having fallen back to low levels. Analysts noted that a similarly light positioning pattern earlier this year drove prices up approximately 38% within days, and any new exposure could lead to price gains exceeding expectations. The report emphasized that Ethereum's significant upgrade has fundamentally altered its economic structure, yet market sentiment remains relatively conservative. Data shows that since May, ETH has performed strongly, with futures open interest rapidly doubling from $8 billion to $16 billion. Last week, about 35.8% of options trading volume consisted of bullish option purchases, indicating traders are quietly increasing bullish positions. However, analysts also cautioned that Treasury-related buying is not as stable as before, and whether Ethereum can repeat its strong upward momentum seen during the previous upgrade cycle remains to be seen.
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