Ethereum’s spot setup looks grim, but derivatives data tells a different story
Ether price is stuck in a rut, but derivatives data shows pro traders are bullish even with ETH below $3,000.
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Ether price is stuck in a rut, but derivatives data shows pro traders are bullish even with ETH below $3,000.
The bearish setup positions Ethereum price to extend the decline toward $2,000.
Layer-2-based DeFi and DEX platforms have seen an incredible surge in user activity, revenue and total value locked since the launch of Arbitrum and Avalanche’s cross-chain bridge.
Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone.
Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls.
Crypto markets have dropped a great deal in value over the last 24 hours as crypto assets across the board have lost anywhere between 7-15% in value during this time…