Matrixport: Ethereum may repeat May's market trend, and a light position pattern could drive prices up rapidly

According to Matrixport's latest weekly report, the current cryptocurrency market is in a "position vacuum" state, with the overall positions of ETH and BTC having fallen back to a low range.

Analysts point out that a similar light position pattern earlier this year drove prices up by about 38% in just a few days, and any new exposure could lead to price increases exceeding expectations. The report emphasizes that Ethereum's significant upgrade has substantially changed its economic structure, but market reactions remain cautious. Data shows that since May, ETH has performed strongly, with futures open interest rapidly doubling from $8 billion to $16 billion, and about 35.8% of options traded last week were call options, indicating that traders are quietly increasing their bullish positions. However, analysts also warn that government bond-related buying is not as stable as before, and whether Ethereum can replicate the strong rally seen during the last upgrade period remains to be seen.