ETH derivatives show pro traders are worried about Ethereum’s $2.5K support
Ether’s price has been sideways for 27 days, but pro traders are not confident about the $2,500 support, according to derivatives. Ether (ETH) investors are having a rough time in 2022, with ETH accumulating 25% losses year-to-date as of March 17. Still, the cryptocurrency has bounced multiple times near $2,500 over the past couple of months, signaling a solid support level.Ether/USD price at FTX. Source: TradingViewOn March 15, Ethereum developer Tim Beiko announced that the Kiln testnet — formerly Ethereum 2.0 — successfully passed the Ethereum “Merge.” The process involves taking....
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After correcting 15%, Bitcoin price dropped to $30,000 but derivatives indicators suggest pro traders are buying the dip. In the last 24-hours Bitcoin (BTC) price dropped 14% and tested the $32,000 support for the fifth time this year. Traders probably became even more worried as the price fell to $31,050 but at the time of writing the 4-hour chart suggests that the selling could be slowing down. Currently the shorter-term charts indicate that Bitcoin is still flirting with bearish territory but a number of derivatives indicators and the top traders flow reflect neutral to bullish....
Distributed derivatives platform Velocity went live this week with a product demo version. The “simple” smart contract invites users to speculate on price for Ethereum’s native token ether. Velocity Making ‘Financial Building Blocks’. Velocity‘s aim is to provide a blockchain-based smart contract alternative to existing derivatives, built on Ethereum. The demo version currently runs on Ethereum’s testnet. Chief architect Vignesh Sundaresan indicated where the financial industry could use his products: “Derivatives are financial building blocks if you think about it. They are everywhere....
As the crypto economy sets its sights on half of a trillion in USD value, digital currency derivatives markets are swelling significantly. Bitcoin futures have surpassed a six-month high at $52 billion, while the crypto asset’s options markets have jumped massively too. Additionally, bitcoin options markets indicate that traders wager there’s a 29% chance the price of BTC will be above $20,000 by December 25, 2020. At the time of publication, the entire cryptocurrency economy is hovering just below the 500 billion-dollar mark. While cryptocurrencies like BTC and ETH have seen....
ETH price is storming toward a key resistance level, but pro traders are reluctant to add leverage for three important reasons. Even though Ether (ETH) price bounced over 20% from the $2,300 low on Feb. 22, derivatives data shows that investors are still cautious. To date, Ether's price is down 24% for the year, and key overhead resistances lay ahead.Ethereum's most pressing issue has been high network transaction fees and investors are increasingly worried that this will remain an issue even after the network integrates its long-awaited upgrades.For example, the 7-day network average....
Bitcoin's rally to $40,000 alleviated some of the bearish sentiment in the market, but data shows derivatives traders still walking on eggshells. Bitcoin (BTC) traders might be feeling extra euphoric after the recent 35% rally, but data suggests bears are not too worried because a similar breakout took place in mid-July and the price failed to hold the $40,000 support.To understand how bullish investors are this time around, let's take apart the derivatives data and look at the futures contracts premium and options skew. Typically, these indicators reveal how professional traders are....