Pro traders curb their enthusiasm until Ethereum confirms $3,400 as support
ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution.
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ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution.
Short sellers got liquidated to the tune of $150 million, but two metrics show pro traders did not flip bullish after the recent Bitcoin rally.
Traders who believe ETH will recover but unlikely surpass $3,800 ahead of May can benefit from the skewed iron condor strategy.
BTC price is caught in the middle of a game of tug-o-war, as evidenced by the fact that pro traders are equally pricing upside and downside risk instruments.
The market gave up last week’s gains from Bitcoin’s surge to $45,000, but derivatives metrics suggest retail traders are more bullish than market makers and whales.
ETH price is storming toward a key resistance level, but pro traders are reluctant to add leverage for three important reasons.
Traders expect BTC to flip $40,000 back to support soon, but derivatives metrics signal that a different outcome could occur.
A key risk indicator for BTC options hit its highest level in six months, possibly signaling that $32,930 was the bottom.
Key BTC trading metrics are sitting on the edge of the “worst outcome” scenario, suggesting that the current sell-off is far from over.
ETH price could hit new lows near $3,600, but derivatives data suggests pro traders still feel bullish.