Ethereum shillers call for $5K ETH, and this time derivatives data is backing them up
Ether bulls have been calling for $5,000 ETH for years, and now derivatives data suggests that the price is finally realistic.
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Ether bulls have been calling for $5,000 ETH for years, and now derivatives data suggests that the price is finally realistic.
The "Whales Supply Shock" metric has been pretty accurate in detecting Bitcoin market tops.
October 2021, with 40% gains, becomes the best for Bitcoin price action since December 2020, even beating the Q1 run.
After a slight hiccup in BTC futures premium, traders seem comfortable despite the $58,000 support retest and the risk of $60,000 turning to resistance.
Bitcoin is witnessing modest profit-booking, but the long-term trend remains intact and altcoins like ETH, BNB, MATIC and FTM may remain in focus in the short term.
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Analysts say multiple factors point toward ETH rallying to $5,000 and BTC is not expected to encounter significant resistance until $85,000.