Research Notes · Ticker

ETH

Kresmion Research notes about ETH. Independent, source-attributed, information-only.

8 notesView ETH filings and institutional holdings →All research notes
CryptoMacroPositioning

ETH Perpetual Open Interest Reached 70.2 Percent of Bitcoin's, Rank 1 of 73 Sessions.

Funding Closed on Its 31-Day Median.

ETH perpetual open interest closed Saturday at 70.2 percent of Bitcoin's, the highest reading of 73 sessions, and ETH funding closed on its 31-day median. Kresmion's derivatives aggregate marked the September 12 UTC day at 23:59:01 UTC with ETH open interest at $11.910 billion against Bitcoin's $16.971 billion, a ratio of 0.7018, and the open-interest-weighted ETH funding rate closed the next day at 0.005941 percent against a 31-day median of 0.005682 percent, the 53rd percentile (Kresmion cryptoderivativesaggregate). The largest ETH perpetual book of the window is carried at an ordinary cost. Two sessions before the Fed decides, the ETH spot ETFs took $189.3 million on CPI day while the Bitcoin funds gave…

17 min readETHBTC
Cryptooptionsderivatives

The Options Market Prices a Near-Term Bitcoin Dip at Nearly 40 Percent.

The Betting Crowd Puts It at 13.

7 min readBTCETH
CryptoMacro

Bitcoin and Ethereum Rose This Week While Every Major US Stock Index Fell.

The Macro Regime Behind Them Did Not Shift.

8 min readBTCETHSPY
Cryptoethereumtreasury

More Public Companies Filed to Add ETH to Their Balance Sheets Last Month Than Bitcoin.

One of Them Now Holds Almost 5 Percent of the Supply.

9 min readETHBTC

July 2026

1 note
CryptoPositioning

ETH Rose Almost 8 Percent This Week.

One Fund Did Most of the ETF Buying, and the Largest Wallets Sent the Most ETH to Exchanges in a Month.

ETH rose 7.68 percent over the past week, yet a single fund did most of the buying, positioning thinned, and the largest wallets moved coins onto exchanges. Three separate windows into who is behind the move point in different directions, and only the price…

10 min readETH

June 2026

3 notes
MacroRatesPositioning

Kresmion's Cross Asset Regime Turned Risk-Off Today.

Credit Spreads and Recession Bets Have Not.

Kresmion's cross asset regime model crossed into Risk-Off today for the first time, and the one factor that had been holding it in Neutral was low volatility. The score did not fall because credit cracked or because recession bets jumped. It fell because the…

11 min readBTCETH
CryptoInstitutionalPositioning

Bitcoin ETFs Shed $3.4 Billion in Twelve Sessions.

Futures Traders Are Still Crowded Long.

US spot Bitcoin ETFs have shed roughly $3.4 billion over the last twelve sessions, broken by a single tiny up-day, while futures speculators sit crowded long. That combination is the day's most interesting tension, and it lands on a CPI morning. Here is what…

6 min readBTCETH
MacroCryptoPositioning

Every Macro Factor Turned Negative This Week.

A Hot Jobs Report Was the Trigger.

Kresmion's cross-asset regime score swung from +0.20 to -0.30 over the past week, and all four of its underlying factors are now negative as of June 8. The model's conviction stepped from MEDIUM to HIGH on June 5 and has held at maximum for four straight…

8 min readBTCETH