On January 16, news reports indicate that as the Federal Reserve Open Market Committee (FOMC) meeting approaches, market sentiment in the crypto space is gradually becoming more cautious. Ethereum (ETH) experienced a slight pullback after reaching its weekly high, but leverage levels in the derivatives market continue to rise, sparking widespread discussion about “Ethereum leverage risk” and whether “ETH is facing a correction.”
From a price performance perspective, ETH has fallen about 3% from its weekly high of approximately $3400, but compared to the opening price at the start of the week, it still shows an increase of about 7%, indicating that the medium-term structure remains intact. Previously, after nearly two months of range-bound consolidation, Ethereum re-established itself above a key level. This recent pullback appears more like a technical correction after an upward move rather than a trend reversal.
However, derivatives data presents a different signal. Since this week, the open interest in Ethereum has significantly increased, with new leverage approaching $3 billion. The proportion of long positions in perpetual contracts on some mainstream trading platforms remains high. The divergence between a mild price correction and the rapid accumulation of speculative positions is testing ETH's stability ahead of macro events.
On the macro front, the uncertainty brought by the FOMC meeting is amplifying market volatility expectations. In an environment where the interest rate path remains unclear, high-leverage assets are more susceptible to emotional shocks. Therefore, whether ETH's current correction is merely a short-term consolidation or a prelude to a deeper adjustment remains to be seen.
It is worth noting that Ethereum's on-chain fundamentals continue to show resilience. Data from Glassnode indicates a significant increase in new addresses and new wallets, with daily new wallets reaching 393,000. Additionally, on January 15, the number of daily transactions on the Ethereum network rose to approximately 2.8 million, a 50% increase compared to a week earlier, setting a new all-time high.
The synchronized growth in activity and user base reflects ongoing capital inflows and genuine demand for usage. This provides a fundamental support for ETH's price, even in the face of short-term macro and leverage pressures. Moving forward, the outcome of the FOMC meeting may become a key event to test the strength of Ethereum bulls and bears.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SharpLink reports a loss of $734 million; Ethereum holdings remain solid
SharpLink Inc. reported a net loss of $734.6 million in 2025, mainly due to unrealized losses caused by the decline in Ethereum prices. Nevertheless, the company's actual revenue grew significantly, expected to reach $28.1 million, and institutional ownership increased from 6% to 46%. This reflects market recognition of its long-term ETH treasury strategy.
MarketWhisper5m ago
The Ethereum Foundation Bug Bounty Program's maximum reward has been increased to $1 million.
Gate News Announcement: On March 10th, Ethereum Foundation Security Researcher Fredrik tweeted that the Ethereum Foundation's bug bounty program's maximum reward has been increased from $250,000 to $1,000,000. The scope includes protocol bugs, client bugs, language compiler bugs, deposit contract bugs, and dependency errors. Infrastructure vulnerabilities (such as web, DNS, email, etc.), ERC-20 contract bugs, Ethereum Name Service (ENS) vulnerabilities, and others are not covered by this bounty program.
GateNews19m ago
Vitalik Buterin Proposes Native DVT for Ethereum, Ethereum Foundation Stakes 72,000 ETH Using DVT-Lite
Ethereum co-founder Vitalik Buterin has proposed integrating native distributed validator technology directly into Ethereum's staking protocol, allowing multiple independent nodes to operate as a single grouped validator identity to enhance security and decentralization.
CryptopulseElite26m ago
ETH 15-minute increase of 1.32%: Major capital inflows and technical rebound resonate to drive the rise
2026-03-10 02:30 to 2026-03-10 02:45 (UTC), ETH's 15-minute return reached +1.32%, with a price range of 2020.97 to 2054.01 USDT, and an amplitude of 1.63%, showing a significant anomaly. Market attention increased accordingly, volatility intensified, and short-term trading activity rose.
The main driver of this anomaly was the concentration of large on-chain funds buying in, especially multiple large wallets making cumulative large purchases of over 3000 ETH near key support levels, directly pushing up the ETH price.
GateNews52m ago
Yesterday, the US Ethereum spot ETF experienced a net outflow of $51.26 million.
Gate News Report, March 10 — According to crypto analyst Trader T's monitoring, yesterday (March 9), the US Ethereum spot ETF experienced a net outflow of $51.26 million. Among them, BlackRock's ETHA had a net outflow of $55.08 million; Fidelity's FETH had a net inflow of $16.22 million; 21Shares' TETH had a net inflow of $1.01 million; Grayscale's ETHE had a net outflow of $13.41 million.
GateNews54m ago
Liquid Capital Founder: Ethereum below $2000 is worth watching; stablecoin AI payment value is emerging
Liquid Capital founder Jack Yi pointed out that Ethereum is worth paying attention to below $2000 and believes this year is suitable for preparing new funds and platforms. He emphasized that the development of AI brings innovative opportunities to the crypto industry, while also mentioning that team risk is the biggest challenge faced by the primary market.
GateNews58m ago
