ether
ETH$2,249.97
The recent rally has been on volatile ground, with one solid warning that last week’s price surge was heavily driven by speculative futures positions rather than organic demand conflicts.
In a memo on Monday, Matrixport said “when leveraged traders don’t have basic support, they drive higher prices (of ETH),” adding that this made it more susceptible to assets they saw over the weekend.
Ether led losses between majors as traders responded to US attacks on Iran’s nuclear sites in a surprising airstrike.
📊Today’s #Matrixport Daily Chart- June 23, 2025 👇
Why Ethereum Drop Not Finished – And now futures positioning is telling us now #matrixport #bitcoin #btc #ethereum #eth #cryptomarket #cryptotrading #ethprice pic.twitter.com/a6t3as8ar1
– Matrixport official (@matrixport_en) June 23, 2025
The company pointed to last week’s sharp drop in ETH as evidence of this position-driven vulnerability, warning that rising leverage levels could continue to put pressure on prices.
At Press Time, ETH traded at nearly $2,248 (a high of last week fell above $2,400).
As Coindesk analyst Omkar Godbole pointed out over the weekend, options market signals repeat that attention. According to Amberdata data, ETH’s 25-DELTA risk reversal (a measure comparing the cost of put-to-call) is negatively skewed through the June-July expiration date. This suggests that investors are paying for protection against negative side volatility.
QCP Capital further noted in a weekend market update that “both BTC and ETH risk reversals continue to show preferences for downside protection,” adding that long-term holders are actively hedging spot exposures.
Read more: Sol, XRP, Doge Lead Lead Altcoin Recosic
