ETH futures premium indicates cautious trading, with limited bearish sentiment near $3,700. A 9.5% drop triggered $232 million in liquidations amid credit concerns. Derivatives data show unease but whales not expecting a deeper decline. S&P Regional Banks Index rebounds, but larger institutions report losses. Germany’s Bundesbank president warns of “spillovers” in private credit market.

ETH monthly futures premium slips to 4%, signaling doubt in lasting bullish momentum. US-China trade tensions deepen, adding to traders’ unease. Top traders at Binance increase exposure to ETH despite price weakness, while OKX traders exit near $3,700. ETH derivatives markets show healthy hesitation in leveraged positions, recovery may depend on clearer signals from credit conditions and US labor market data.

Read more at Cointelegraph: ETH Sell-off Fails To Shake Ether Options Traders