Ethereum’s Descent into Madness: $1,800 Looms as Derivatives Collapse

ETH, now trading near $1,977, bears the marks of a high-volume breakdown, a lower-high structure etched into the weekly chart like the scars of a sinner. Open interest, once a proud $23 billion, now crumbles to $11.3 billion-a near-50% collapse, as though the market itself has been gutted by its own greed. Active addresses, too, have dwindled since February’s fleeting glory, while exchange reserves, after months of outflows, now swell with ominous intent. Is this but a routine pullback? No! This is the reckoning of a world unmoored from reason.


