Recently, the contract market has indeed been booming. The total open interest of Bitcoin and Ethereum contracts across the entire network has both surpassed historical highs, with Bitcoin reaching $62 billion and Ethereum $41 billion. Meanwhile, the weekly net inflow of Bitcoin reserves into listed companies has exceeded $550 million, indicating a strong influx of capital.

What does this phenomenon usually indicate? The market is likely to make a clear directional choice in the near future, and volatility may also increase accordingly. According to data from Santiment, market attention is shifting back to niche sectors like Meme coins and RWA. As the competition among mainstream assets intensifies, some investors' focus naturally shifts to those tracks with high consensus but not yet crowded.

Ethereum has been performing well, with its price continuously pushing toward 3300, and the activity of its ecosystem projects has also increased. Projects closely related to Ethereum and driven by the community have recently led the gains noticeably, making them worth paying attention to for potential opportunities. But honestly, massive positions are a double-edged sword—they can be a breeding ground for risk or brewing opportunities for a turnaround.

What do you think about whether this wave of high open interest will trigger larger market fluctuations? Feel free to share your thoughts in the comments!