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Ethereum derivatives open interest drops 11.7%, hitting lowest since June 2026 amid price consolidation.

Technical Signals
08 Oct 2026
Crypto Briefing
View Source
Neutral
Ethereum derivatives open interest drops 11.7%, hitting lowest since June 2026 amid price consolidation.

Open interest in Ethereum (ETH) derivatives has fallen 11.7% to its lowest level since June 2026, as traders reduce leverage amid price consolidation between $2,600 and $2,800. Funding rates have turned negative, indicating bearish traders are currently dominant and paying to maintain their positions. This deleveraging trend reflects broader caution in crypto markets, similar to Bitcoin futures. Lower leverage reduces liquidation risks but negative funding rates suggest traders expect further price declines, with potential for sharp moves if shorts are forced to cover. Key indicators to watch include open interest stability, funding rate shifts, and price movements outside the current range.

As traders reduce leverage in Ethereum derivatives, a similar cautious mood is seen in Binance Coin (BNB) on Pluang. As of Oct 09, 2026 02:32 WIB, BNB trades at Rp13.055.325 with a 1-day change of -5.42%. The market shows a slight bias towards buying with 59% of orders as buys, while typical hold time on Pluang is 89 days, indicating steady investor interest despite recent volatility.

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