Ethereum approaches a new ATH, but derivatives data reflects mixed emotions
Ethereum price appears en-route to a new all-time high, but data shows retail and pro investors are slightly skeptical about the current rally. Today Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets.Ether ETH/USD price at Bitstamp. Source: TradingViewWhile it is possible to draw a descending channel that shows support at $3,960, today's 5.4% positive move seems....
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ETH’s futures markets are slightly bearish, but options traders appear to be interpreting the rally to $3,200 as a bottoming signal. Ether (ETH) has been an emotional rollercoaster over the past three months primarily because its price rallied twice. First, it peaked at $4,870 on Nov. 10 and at $4,780 on Dec. 1. However, the double top was quickly followed by a harsh rejection, which led to $490 million in long futures contract liquidations in 48 hours.Once again, hope was instilled on Dec. 8 after Ether commenced to rally 28.5% in four days to retest the $4,400 support. Soon after, the....
Data shows traders are buying $400 protective puts while also holding $7,000 call options, a signal that traders either have mixed emotions or are just cashing in on the upfront premium. After reviewing Ether (ETH) options for June 25, one might think that traders either became overly optimistic or ultra-bearish. Currently, there are large bets for prices below $1,000 while others aim for $3,800 and higher.A recent report from Coinshares shows that multiple crypto funds have begun seeing net inflows after weeks of record outflows. The report notes that Ether vehicles saw a total of $47....