Ethereum futures hit one-year high, liquidation risks loom

Ethereum's phenomenal 20% surge over the past five days has caught everyone's attention, spurred by the tantalizing possibility of a high-stakes Ethereum ETF approval, now given a 75% chance. This speculation has electrified the futures market, with open interest reaching a one-year peak. However, some on-chain data paints a murkier picture. Strikingly, the open interest levels are higher than when Ethereum was trading near $4,000 last year, even though prices are currently... What might this discrepancy indicate about Ethereum's immediate future?

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