Ethereum price risks a drop below $1K if these key price metrics turn bearish
Two key Ethereum price metrics have yet to turn bearish, but it won’t take much to trigger an ETH drop below $1,000.
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Two key Ethereum price metrics have yet to turn bearish, but it won’t take much to trigger an ETH drop below $1,000.
Is it time to be greedy? Experienced market makers and arbitrage desks have turned strongly risk-averse as BTC price dropped to $22,600.
Traders keep saying ETH price will collapse below $1,600 soon, but a key trading metric shows most are unwilling to place bearish bets below $1,900.
Bulls placed too much hope on $32,000 flipping to support, an error that is bound to show by Friday’s $800 million BTC options expiry.
Regulatory pressure and macroeconomic uncertainty continue to pin traders' sentiment and BTC price under $32,000.
BTC price lost the momentum that pushed it to $32,300 on May 31, but this week’s option expiry could help bulls recapture the key price level.
BTC price looks to break out of its downtrend, yet pro traders are still unwilling to add leveraged positions.
Conflicting Bitcoin derivatives data shows leverage traders bullish, while pro traders fear a deeper correction below $29,000.
Traders are calling for a “relief rally” to $35,000, but derivatives data shows bears stand to profit from this week’s $1.81 billion BTC options expiry.
A slight improvement in equities markets and the resilience of a few key BTC price metrics are giving bulls hope of a reversal.