Derive suggests data shows the chances of Ether reaching $5,000 by the end of the year are low, but traders seem more bullish than ever amid significant ETF inflows.
Onchain options protocol Derive says data shows Ethereum has less than a 10% chance of hitting the much-anticipated $5,000 mark by the end of 2024, despite significant inflows into spot Ether exchange-traded funds (ETFs) hinting at a looming “supply-side crisis.”
The probability that Ether (ETH) would reach $5,000 by Dec. 27 “climbed to 16% at its peak but has recently adjusted down to just over 8%,” Derive head of research Dr. Sean Dawson said in a Dec. 10 markets report.
Ether’s chances of reaching $5,000 by the end of the year have fallen by approximately 50%. Source: Derive.xyz
