Ethereum (ETH) open interest has increased by 8.2% within 24 hours, indicating a rise in leveraged futures trading as the cryptocurrency experiences a partial price recovery. This surge in open interest suggests heightened speculative activity, which has historically led to reversals in 75% of similar cases, according to analysts. The recent increase in open interest comes against a backdrop of over $19 billion in previous liquidations, underscoring potential systemic risks. Market participants are advised to keep a close watch on funding rates and spot trading volumes to gauge the sustainability of this rally.