Ethereum News Today: Ethereum Surges 14.4% to $3,972 on Record Derivatives Activity

Ethereum (ETH) reached a peak of $3,972 on Aug. 8, 2025, signaling renewed bullish momentum amid robust derivatives market activity. The price surge, which lifted the second-largest cryptocurrency to a 24-hour high, was supported by a sharp rise in trading volumes and concentrated long positions in both futures and options markets [1]. Over the past 24 hours, $32.5 billion in ETH trades were recorded, with the price range fluctuating between $3,806 and $3,972 [1]. The rally triggered $103.10 million in liquidations, with $76.15 million attributed to short positions, indicating a significant shift in market sentiment [1].

The 4-hour price chart reveals a steady upward trajectory, with Ethereum rebounding from a low of $3,351 on Aug. 3 to near $3,972, marked by several high-volume breakout candles. On the daily chart, the coin has advanced from $2,475 in late July, pausing at minor resistance levels before accelerating toward the $4,000 mark [1]. This pattern suggests a period of consolidation near the recent high, with potential for a breakout in the near term.

Derivatives market data highlights the intensity of recent activity. ETH futures open interest (OI) has surged to $52.19 billion, equivalent to 13.38 million ETH, with CME, Binance, and Bybit accounting for the largest share. CME holds 1.63 million ETH in OI ($6.35 billion), Binance 2.64 million ETH ($10.30 billion), and Bybit 1.23 million ETH ($4.78 billion). Over the last 24 hours, CME, Binance, and Bybit all reported OI gains, while OKX, Gate, and KuCoin experienced declines [1]. The CME's OI-to-volume ratio stands at 1.6627, reflecting deep institutional positioning in the market [1].

In the options segment, open interest is heavily skewed toward calls, with 67.46% (2.045 million ETH) compared to 32.54% (986,253 ETH) in puts. The past day's trading volume also favored calls, which accounted for 57.11% of total volume (288,565 ETH) versus 42.89% for puts (216,753 ETH) [1]. The top ETH options by open interest include the Dec. 26, 2025, $6,000 calls (60,644 ETH) and the Sept. 26, 2025, $4,000 calls (54,738 ETH). The most actively traded options in the past 24 hours were the Dec. 26, 2025, $4,000 calls (25,626 ETH) and the Sept. 26, 2025, $3,200 calls (20,004 ETH) [1].

The current derivatives landscape suggests a clear bullish bias as the market approaches the year’s final quarter. The concentrated call interest across both futures and options markets points to strong optimism among traders and investors. However, the high open interest and recent liquidation activity underscore the potential for increased volatility should price momentum shift [1]. The market’s ability to sustain this momentum will depend on the balance between speculative and hedging activity, with the latter playing an increasingly important role as the derivatives ecosystem matures [1].

Source: [1] Ethereum Taps $3,972 as Futures and Options Activity Heats Up (https://news.bitcoin.com/ethereum-taps-3972-as-futures-and-options-activity-heats-up/)