Matrixport: The risk aversion in the cryptocurrency market has intensified, with Ethereum's open interest falling to its lowest level since last summer

ChainCatcher news, Matrixport indicates that the crypto market is currently in a risk-off mode, influenced by macroeconomic uncertainty, leading to the unwinding of many long futures positions. As prices decline, the open interest in futures has significantly decreased, showing that the escalation of the trade war and the Fed's continued hawkish stance have prompted some traders to exit long positions.

It is noteworthy that Ethereum's open interest has dropped to its lowest level since the summer of 2024. Despite Trump's recent mention on Twitter of possibly establishing a "Bitcoin strategic reserve," and the White House crypto summit scheduled for March 7, the market overall still exhibits risk-off sentiment, with investors generally reducing their risk exposure. Many traders seem to be waiting for clearer macroeconomic signals before re-entering the market.