Ethereum Prices Surge: Is This a Sign of Bullish Momentum?

Ethereum has experienced a significant price surge, rising by over 20% and reaching its lowest valuation compared to Bitcoin since 2019. This rally was fueled by increased trading activity in derivative markets, particularly the futures market, which saw a massive 184% volume increase according to data from Coinglass. This spike is further reflected by a rise of 20% in open interest for Ethereum futures contracts within just 24 hours, signaling fresh capital flowing into the asset and bolstering investor confidence.