Ethereum's Bull Trap: ATH Open Interest to SFP ReversalThe market turned highly bullish on Ethereum ( CRYPTOCAP:ETH ) as open interest (OI) surged to all-time highs (ATHs), indicating strong trader participation and expectations of further price appreciation. However, instead of continuing its upward momentum, Ethereum's price formed a swing failure pattern (SFP) at the highs. This means the price briefly moved above a key resistance level, luring in breakout traders, only to reverse sharply and trap those who went long. Such a move is often a liquidity grab, where large players push the price up to trigger stop-losses and liquidate positions before driving the market in the opposite direction.