ETH 5B+ Open Interest ramped up in the span of a week. Partially explained by the price increasing but there's also been a lot of chasing the past few days with minimal price movement. Spot ETF Net flows have been pretty much flat during this time so I still think most of this move was short squeeze driven. As was the case for many "dead" alts. Looking for a 2B+ open interest wipe to make things interesting again. The quicker it goes the better it would be for a reset. You don't want to get a slow dribble back down to some support level because that generally ends in more pain afterwards. I still hold some long term spot ETH but have shaven some profits of from the buys I did in the past couple of months.