TechFlow news, June 11 — Matrixport released a chart analysis today stating, "Ethereum funding rates have surged to 13.7%, reaching the highest level since February this year. This is typically interpreted by the market as a bullish signal, potentially attracting more capital inflows into Ethereum ETFs. However, a more noteworthy sign is that futures open interest is approaching the historical high seen in December 2024. This indicates that the main driver behind the current price rally is not spot buyers, but rather leveraged futures traders.
Compared to Bitcoin, which remains primarily driven by spot demand, Ethereum's price movement is diverging. Recently, surging call option buying combined with gamma hedging effects has exposed ETH to significant gap risk. The market is becoming increasingly fragile and highly sensitive to shifts in momentum."
