Image = CryptoQuant Quicktake Capture

Ethereum (ETH) is showing signs of a bullish reversal in major investment indicators, raising expectations for potential future gains, according to analysis.

On the 23rd, EgyHash, an analyst at the virtual asset analysis platform CryptoQuant, stated in a Quicktake report, “Despite recent market adjustments, Ethereum is showing bullish signals indicating potential upside,” adding, “Market participants are ready to maintain their (investment) exposure to Ethereum, potentially indicating upside potential.”

Previously, Bitcoin (BTC) achieved notable success after the U.S. presidential election, but Ethereum failed to reach an all-time high, revealing limitations in its upward momentum.

The analyst noted, “The leverage ratio of Ethereum in the derivatives market continues to remain at its highest level,” and projected, “Ethereum’s funding rate suggests the possibility of continuing its upward trend without significant adjustments.”

Additionally, “Ethereum traded in Korea is at a higher price than in other countries, indicating increasing interest in Ethereum among Korean investors,” the analyst analyzed.

The analyst added, “Inflow of funds into Ethereum spot ETFs is steadily increasing,” and “Ethereum is likely to continue its bullish trend based on demand from both individual and institutional investors.”

Meanwhile, the funding rate represents the degree to which the long or short ratio in futures exchanges is skewed, reflecting the sentiment of futures investors.