Summary
- Cointelegraph reported that Ethereum (ETH) currently lacks a clear short-term catalyst for breaking above $3,800.
- It was noted that bearish positions prevail in the ETH futures and options markets, and there is a slight negative premium for ETH on Coinbase and Kraken.
- A net outflow of $129 million from Exchange-Traded Funds (ETFs) was recorded last week, indicating weakening demand from institutional investors.
On the 4th (local time), cryptocurrency-focused media outlet Cointelegraph reported that Ethereum (ETH) lacks a clear catalyst to break above $3,800 in the short term.
According to the outlet, bearish positions outweighed neutral ones in the ETH futures and options markets.
Additionally, on Coinbase and Kraken, ETH is showing a slight negative premium compared to Binance and Bitfinex.
This suggests that institutional investor demand is weakening.
Furthermore, from Wednesday to Friday last week, a total net outflow of $129 million was recorded from Exchange-Traded Funds (ETFs).
Meanwhile, as of 01:38 on the 5th, ETH was trading at $3,669.96 on the Binance Tether (USDT) market, up 5.21% compared to the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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