ETH Surges 2.2% as Binance Unveils 200x Leverage, Strong Trading Volume Drives Momentum
ETHUSDT has experienced a 2.20% price increase over the past 24 hours, with the current Binance price at 2967.36 and a 24-hour open of 2903.58. This movement can be attributed to a combination of substantial trading volume, active participation from both institutional and retail traders, and key market developments, including the introduction of 200x leverage for ETHUSDT perpetual contracts and significant long positions initiated by prominent market participants. Despite recent ETF outflows totaling over $510 million and cautious institutional sentiment, technical indicators such as a previous bullish continuation pattern and robust on-chain activity have contributed to price volatility and the observed upward momentum. ETHUSDT has traded between a high of 3030.92 and a low of 2791.02 in the past day, with total 24-hour volume on Binance leading global exchanges and Ethereum’s market capitalization estimated at approximately $356 billion.
🚨 BANK OF JAPAN INTEREST RATE DECISION IS COMING TOMORROW.
The market expects 98.4% odds of a 25 bps rate hike.
Here’s what happened when BOJ raised rates in the past.
July 31, 2024:
BOJ raised rates to 0.25%
Bitcoin dropped 26% in 8 days
Jan 24, 2025:
BOJ raised rates to 0.50%
Bitcoin dropped 25% in 20 days
Now BOJ is expected to raise rates to 0.75%, the highest level since 1995.
Just like the past, markets could see some downside around the decision.
But if you look at the chart, every BOJ driven BTC dump was followed by a strong recovery and new ATH.
$BANK is showing its true character now. After sweeping liquidity near 0.0335, price exploded straight to 0.0392 and is now cooling off around 0.0359. This pullback looks healthy, not weak. As long as BANK holds above the 0.0350 to 0.0345 zone, buyers remain in control. This area is acting as a strong demand base where smart money usually reloads. If momentum returns, the first push is toward 0.0375 and then a clean retest of 0.0390 to 0.0400. A break and hold above that zone can open the door for continuation moves. If price loses 0.0345, then 0.0335 becomes the last major support to watch. Volatility is high, structure is fresh, and this chart still feels alive. BANK is not done yet, it is just catching its breath.
#USNonFarmPayrollReport #BTCVSGOLD #USJobsData #CPIWatch #WriteToEarnUpgrade