Written by Biraajmaan Tamulystaff writerReviewed by Ray Salmondstaff editor

Written by Biraajmaan Tamulystaff writer

Reviewed by Ray Salmondstaff editor

ETH futures traders lean into $1.6K range lows: Will Ether lead market recovery?

MarketsPublishedJun 11, 2026

ETH traders increased their long positions as Ether price traded near 2026 lows. Will ETH’s rebound eclipse the BTC recovery?

Ether (ETH) traders are increasing their leveraged long positions despite ETH price being down 44% in 2026. Ether’s futures open interest at Binance has climbed to a record 3.7 million ETH, with the exchange accounting for more than 44% of total Ether futures.

Crypto analyst Darkfost pointed out that Ether futures activity has improved despite rising uncertainty driven by geopolitical tensions and weakening economic conditions.

The analyst pointed out that Binance now holds nearly 3.7 million ETH in open futures contracts, marking a new all-time high for Ether open interest on the exchange.

ETH open interest value on Binance. Source: CryptoQuant

Improving risk appetite for long positions also emerged as Binance’s weekly average taker buy-sell ratio increased to 1.0 from 0.95 after months of seller-led activity. A reading near 1.0 points to a more balanced market after a prolonged period of selling pressure.

The trend extends beyond Binance. Across all exchanges, the taker buy-sell ratio has risen to 1 from 0.94 over the past two weeks, indicating that buyers are becoming more active in market orders than sellers.

Ether: taker buy sell ratio across all exchanges. Source: CryptoQuant

At the same time, the speculative activity is accelerating faster than spot demand. Binance’s perp-spot volume imbalance indicator climbed to roughly 0.90, close to a record high, while its 30-day Z-score reached 2.53. 

Perpetual futures volume stood near 5.57 million ETH compared with about 290,000 ETH in spot trading. This indicates leveraged participation is expanding far more quickly than activity in the underlying market.

ETH Perp-Spot volume imbalance indicator. Source: CryptoQuant

Related: Audiera’s AI token BEAT beats Bitcoin, Ethereum as price surges 1,500% in a month

ETH liquidation risk remains on both sides

Market analyst Amr Taha highlighted a growing split in exchange positioning. Binance recorded a 30-day open interest rise of 616,400 ETH, its strongest reading since 2019. During the same period, Gate.io posted a decline of 631,700 ETH.

Multi-exchange open interest 30-day change. Source: CryptoQuant

Liquidation heatmaps demonstrate nearly $8 billion in short positions clustered between $2,200 and $2,400. Those levels stand out as key liquidity zones if ETH price begins to push higher. 

nevertheless, near-term positioning remains heavily leveraged on both sides. Roughly $1.72 billion in cumulative long liquidations sits below the current price of $1,500, while nearly $1.90 billion in short liquidation exposure is concentrated near $1,800. 

The narrow gap between those pools highlights a market where both bullish and bearish positions carry notable liquidation risk.

ETH liquidation map. Source: CoinGlass

Related: ETH crash to $1K looms if key support breaks: Will futures traders step in?

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Ether Price
• Ethereum Price
• Markets
• Market Analysis
• Cryptocurrencies
• Altcoin Watch
• Cryptocurrency Exchange
• Binance
• Futures
• Derivatives
• Ethereum

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