Summary
- Due to recent US-China trade tensions, Ethereum had relinquished the $4,000 level but recovered the $4,100 level and is showing signs of a rebound.
- According to Laevitas data, despite the decline in the funding rate of Ethereum perpetual futures, the monthly futures premium recovered to a neutral range, maintaining the bullish momentum.
- In the options market, call (buy) option trading volume was slightly higher than put (sell) options, indicating bullish bets predominate across the market.
Recently, due to US-China trade tensions, the leading altcoin Ethereum (ETH), which had relinquished the $4,000 level, is said to have the potential to rebound.
On the 13th (Korean time), crypto asset (cryptocurrency) specialist media Cointelegraph reported that Ethereum recovered the $4,100 level over the past weekend and that Ethereum is showing signs of rebounding from the sharp decline.
The outlet said, "According to Laevitas data, the funding rate of Ethereum perpetual futures fell to -14% last Saturday, but the monthly futures premium recovered to a neutral range within a short time," adding, "This indicates that leverage long demand temporarily weakened, and the bullish momentum was not impaired."
The options market is also showing stability. According to Deribit data, call option trading volume was slightly higher than put option volume. The outlet explained, "Bullish betting predominates across the market."
As of 8:21 AM, Ethereum is trading at $4,125, up 10.12% from the previous day according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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