Ethereum Futures Traders Shift Bullish Amid Sharp Long Share Increase

Ethereum futures are seeing a sharp shift towards bullish positioning among top traders, with the share of USDT-margined accounts holding longs jumping more than 6 percentage points.

Data from CoinGlass shows that on July 17, at 12:15 a.m. ET, leveraged traders increased their long exposure in both dollar-margined and coin-margined venues, signaling rising confidence in near-term upside but also raising the market's vulnerability to liquidations if price momentum reverses.

The share of Ethereum longs rose to 62.68% in the coin-margined market, up 5.13 percentage points from the prior reading, while Bitcoin saw a clear increase with longs reaching 66.23%, +2.42 percentage points.

Market watchers often treat a widening long share in coin-margined contracts as a signal of stronger directional conviction among crypto-native traders, since these products use crypto collateral and tend to be favored by participants willing to keep exposure to the underlying asset rather than stablecoins.