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Ethereum derivatives positioning has tilted decisively bullish, with around 70% of global ETH derivatives positions on Binance now net long, according to exchange and on‑chain data. The shift comes as whale accumulation tightens circulating supply, while ETH balances on exchanges hover near cycle lows.Ethereum derivatives positioning has tilted decisively bullish, with around 70% of global ETH derivatives positions on Binance now net long, according to exchange and on‑chain data. The shift comes as whale accumulation tightens circulating supply, while ETH balances on exchanges hover near cycle lows.

Binance ETH Derivatives Skew Bullish as 70% of Positions Turn Net Long

Author: MEXC NEWS

2025/12/26 17:13

ETH$2,918.49-1.63%

BULLISH$0.02828+9.48%

LONG$0.004572-4.03%

NOW$0.00153+0.65%

NEAR$1.511+0.46%

News Brief

Ethereum derivatives positioning has tilted decisively bullish, with around 70% of global ETH derivatives positions on Binance now net long, according to exchange and on‑chain data. The shift comes as whale accumulation tightens circulating supply, while ETH balances on exchanges hover near cycle lows.

Derivatives Positioning Turns One‑Sided

Data from Binance shows a growing imbalance between long and short positions, with traders increasingly betting on upside continuation in ETH. A 70% net‑long ratio suggests strong directional conviction, though it also raises the risk of crowded positioning if price momentum stalls.
https://www.coinglass.com/

Whale Accumulation Reduces Liquid Supply

On‑chain metrics indicate continued accumulation by large ETH holders, often referred to as whales. As ETH moves off exchanges into long‑term custody, available sell‑side liquidity declines, amplifying the impact of marginal demand.

Key indicators supporting this trend include:

Declining ETH exchange balances
Increased long‑term holder supply
Reduced immediate sell pressure

Ethereum on‑chain data:
https://glassnode.com/
https://cryptoquant.com/

Exchange Balances Near Cycle Lows

ETH balances held on centralized exchanges are reportedly near multi‑year or cycle‑low levels, a condition historically associated with supply squeezes during periods of rising demand.

Lower exchange balances can:

Increase volatility
Accelerate price moves in either direction
Exacerbate liquidations during leverage resets

Bullish Signal—With Caveats

While the convergence of bullish derivatives positioning and tightening spot supply supports a constructive outlook for ETH, analysts caution that heavily long‑skewed markets are vulnerable to:

Long squeezes if funding rates spike
Rapid drawdowns from macro shocks
Volatility around key resistance levels

Funding rate and open interest tracking:
https://www.coinglass.com/funding-rate

Outlook

If whale accumulation persists and exchange balances remain constrained, ETH could remain supported on dips. However, with 70% of Binance derivatives positions already long, further upside may require fresh spot demand rather than additional leverage.

As always, the sustainability of the move will depend on whether demand continues to outpace supply—or whether crowded positioning forces a reset.

Market Opportunity

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Disclaimer: The articles published on this page are written by independent contributors and do not necessarily reflect the official views of MEXC. All content is intended for informational and educational purposes only and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC. Cryptocurrency markets are highly volatile — please conduct your own research and consult a licensed financial advisor before making any investment decisions.