Analyzing Ethereum data, it is noticeable that Q4 2024 and Q1 2025 promise a potential upward trend. In Q4 2024, there is a significant increase in leverage ratios, indicating an increase in risk appetite among investors. Ethereum open interest reached record levels, and positions maintain positive funding rates.

But the question remains: how will the Fed’s policy, despite the rate cut, affect these bullish signals for Ethereum? This could be a decisive factor for the market direction.