In light of Ethereum's recent price consolidation following its swift rise towards $4K, a detailed examination of sentiment indicators in the futures market is warranted. Key metrics such as funding rates and Open Interest provide valuable insights into the prevailing market sentiment.

The funding rates and Open Interest metrics serve as indicators of the aggressiveness of market participants in executing their orders. Positive values in these metrics typically suggest a bullish sentiment and increased activity in the perpetual market, while negative values suggest a more cautious approach.

A closer look at the chart reveals that Ethereum's price uptrend was accompanied by a significant increase in the funding rates metric, indicating aggressive execution of long positions. Similarly, the uptrend in Open Interest suggests increased activity, pointing to a heated state in the futures market.

Given these metrics, the market seems primed for another significant move in the mid-term, with the potential for long positions to be reinstated in the perpetual market. This implies a promising trajectory for Ethereum's price, potentially propelling it towards its all-time high.