#Ethereum Metric Hits All-Time High: Can Price Regain $3,000?

Ethereum's futures market is changing, and price action is set to recover above $3,000. On-chain data implies significant exchange traders are accumulating.

Even though ETH remains below the psychologically crucial $3,000 price barrier, this statistic suggests market players are prepared for a bullish surge and a direction test.

On-chain analytics tool CryptoQuant reports that Ethereum's Estimated Leverage Ratio on Binance has reached 0.611, a record high. The Estimated Leverage Ratio shows traders' borrowed capital compared to liquidity by comparing open interest to exchange reserves.

Sustained ratio rises indicate investor risk appetite. It indicates traders are taking higher leveraged bets in anticipation of price change. The present reading exceeds cycle peaks, which might exacerbate price fluctuations as leverage can cause big liquidations from even small spot price changes.

Another crucial measure shows Ethereum demand rising amid record leverage. The Binance Taker Buy Sell Ratio just reached 1.13. This is intriguing since this level was last seen in September 2023. Market players execute more purchase than sell orders over 1.

Strong taker demand and growing leverage indicate short-term confidence. The data below demonstrates that Taker Buy Sell Ratio surges usually correlate with volatility. Ethereum has traded around $2,900 in the previous few hours, indicating that many traders are planning for a possible $3,000.