ETH Maxis Scream for $3K But Pro Traders Are Skeptical
Ethereum's price is nearing the $3,000 mark, but the optimism among ETH proponents is met with caution from professional traders. Even though ETH saw a significant rise, hitting $2,925, derivatives markets show a lack of confidence for a sustained rally. The current 30-day futures premium stands at 5%, which is only a slight improvement from the previous week. While the total value locked (TVL) in Ethereum increased to $73 billion, lower network fees have diminished ETH's burn rate and, consequently, its demand. Despite a strong performance in decentralized exchange (DEX) volumes, the overall trading activity has declined. The options market reflects a balance between bullish and bearish strategies, with a current delta skew of -3%. This indicates a mixed sentiment in the market, leaving institutional demand uncertain. Despite recent inflows into ETH ETFs contributing to price spikes, the lack of confidence in a continuous uptrend persists among traders.
Source đź”—