During the weekend market, I observed an interesting phenomenon—there was a quite aggressive buying activity in the ETH spot market. On-chain data shows that approximately 55K ETH in net buy volume came from spot traders, a level that appears particularly prominent over the weekend. In contrast, the futures side showed mediocre CVD performance, with no significant fluctuations in open interest, and funding rates remained neutral. Interestingly, the enthusiasm for buying in the spot market contrasts with the relatively subdued futures market. This dislocation may indicate that spot investors are actively accumulating ETH positions on dips, while futures traders are temporarily staying on the sidelines.

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