2026-01-17 01:33:41

Ethereum broke above the $3000 mark this week, and the derivatives market remains hot, with futures trading volume reaching approximately $21.7 billion, the highest since mid-December. Interestingly, the spot market shows clear signs of capital accumulation, with large positions continuously building up. The derivatives side is also active, with high activity from both long and short counterparties. However, the rising trading volume alone does not directly indicate market bias—such surges could either confirm the overall trend or simply reflect traders on both sides holding positions, waiting for a breakout before making decisions. In this situation, the key is whether the support from the spot market can be maintained.

ETH-2,03%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

17 Likes

Reward
17
9
Repost
Share

Comment

0/400

PaperHandsCriminal

· 7h ago

Here are some distinctive and authentic comments: --- 217 billion in trading volume, I bet five bucks this is just another fake pump, it’ll crash soon Is spot trading consolidating? Mine is too, consolidating in my empty account haha Both sides are placing bets, honestly, it means traders are all panicking, no one dares to go all-in $3000 has been resistance for so long, the next move isn’t a break below but a true breakout, there’s probably no third option in between High hype is a good sign? I thought so the first three times, and I’m still holding bags now What does it usually mean when derivatives are booming? Everyone knows, the big players are testing the bottom line I’ve seen this phenomenon before, it was also a volume spike at a fake top, then a huge drop that scared everyone to death ---

View OriginalReply0

SmartContractWorker

· 13h ago

217 billion USD in trading volume, this market is indeed hot, but no one can tell now whether it's a real breakthrough or a game of wash trading.

View OriginalReply0

JustHodlIt

· 01-17 02:03

$3000 now, spot is accumulating positions, derivatives are wildly hedging. To put it simply, everyone is waiting to see who will break first. I believe in the capital being sedimented, but does a 21.7 billion trading volume really mean anything? Both bulls and bears are betting, it just feels like a big shift of chips. The key still depends on whether the spot can hold its ground; if it breaks the level, everything else is pointless. With a trading volume of 21.7 billion, it feels like someone is laying out a plan, and this is the easiest time to be hit. The high heat in derivatives is actually a bit scary—retail investors are fighting it out there, and in the end, we are the ones who get the bad luck. Spot is accumulating positions, it feels like a big event is about to happen. A surge in trading volume isn't necessarily good news; it might actually mean funds are fleeing...

View OriginalReply0

ColdWalletAnxiety

· 01-17 02:00

$3000 again, but the key is whether the spot can hold up --- 217 billion in trading volume sounds impressive, but both bulls and bears are betting on a breakdown, it's really risky --- Fund accumulation is just accumulation, what I fear most is the spot support suddenly collapsing --- The hype around derivatives is intense, both sides are going all-in, waiting to buy the dip or dump --- ETH $3000 feels meaningless, better to focus on this week's spot performance --- Everyone is talking about trading volume, but no one mentions risk? This kind of wait-and-see atmosphere is most likely to be shaken out --- Position accumulation + high trading volume, it feels like someone is positioning in a certain direction

View OriginalReply0

DataChief

· 01-17 02:00

217 billion in trading volume looks impressive, but whether the spot market can withstand the pressure is the real test.

View OriginalReply0

RugPullProphet

· 01-17 01:59

21.7 billion in trading volume... Both bulls and bears are betting on a break. Only spot trading can truly withstand it; otherwise, it's just false fire.

View OriginalReply0

HappyMinerUncle

· 01-17 01:57

Spot accumulation this time is quite interesting, but I'm worried that the main force is just accumulating shares.

View OriginalReply0

ser_aped.eth