Ether price holds $1,820, but pro traders are skeptical about further gains By Cointelegraph
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The Ether price has held above $1,820 for the past three weeks, despite facing a 13.7% correction between April 18-21. Still, analyzing a broader time frame provides a more constructive view, as Ether (ETH) has gained 20.8% in three months while the S&P 500 stock market index has stood flat. However, according to ETH options and futures metrics, the gains have not been enough to make professional investors bullish.
Worsening macroeconomic conditions have driven cryptocurrencies’ positive momentum in 2023, including the ongoing banking crisis. According to Arthur Hayes, former CEO of crypto derivatives exchange BitMEX, if the government refuses to bail out First Republic Bank (NYSE:), it could set off a dangerous chain reaction of insolvencies.
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The Ether price has held above $1,820 for the past three weeks, despite facing a 13.7% correction between April 18-21. Still, analyzing a broader time frame provides a more constructive view, as Ether (ETH) has gained 20.8% in three months while the S&P 500 stock market index has stood flat. However, according to ETH options and futures metrics, the gains have not been enough to make professional investors bullish.
Worsening macroeconomic conditions have driven cryptocurrencies’ positive momentum in 2023, including the ongoing banking crisis. According to Arthur Hayes, former CEO of crypto derivatives exchange BitMEX, if the government refuses to bail out First Republic Bank (NYSE:), it could set off a dangerous chain reaction of insolvencies.
Continue Reading on Coin Telegraph
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