Diverging trends: Ether slides below $2,000 while futures open interest hits record high of 16 million ETH

Ether drops below $2,000 amid heavy selling pressure, yet futures open interest hits a record high. This divergences suggests aggressive shorting. What to know : Ether has fallen below $2,000 for the first time since March amid rising risk aversion, with losses of nearly 8% over the past week. Open interest in ether futures has hit a record high even as prices drop, a combination that suggests aggressive leveraged selling and a bearish market tilt. Investor sentiment toward ether has soured, with U.S. spot ETFs seeing net outflows, high-profile departures from the Ethereum Foundation, and growing doubts about how Ethereum’s ecosystem strength benefits the ETH token.(Coindesk)