Summary
- Despite the price recovery of Ethereum (ETH), investors are reportedly maintaining a cautious stance.
- Cointelegraph reported that the ETH monthly futures premium dropped to 3%, and investors are reluctant to take long positions.
- The skew in the options market stands at a neutral 2%, but some investors are still watching for the possibility of a bullish reversal in ETH.
Despite the recovery trend in Ethereum (ETH) prices, analysts report that investors are still maintaining a cautious attitude.
On the 24th (local time), cryptocurrency-focused media outlet Cointelegraph stated, "On this day, ETH’s monthly futures premium dropped to around 3%, entering a bearish range," and added, "Since ETH failed to hold support at $2,700 on the 12th, investors have been reluctant to take long positions (buying)."
They also explained, "This is because investor sentiment is not recovering easily due to factors such as low fee revenue relative to total value locked (TVL) and intensifying competition among decentralized applications (dApps)."
However, they noted, "The skew in the options market (the implied volatility difference between call and put options) is at a neutral level of 2%, and some investors are still hoping for a bullish reversal in ETH prices."
Meanwhile, as of 5:08 AM on the 25th, according to the Binance Tether (USDT) market, ETH was trading at $2,432.75, up 4.99% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
