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Bullish sentiment begins to fade after Ethereum all-time high at $4,200

Published 05/11/2021, 02:33 PM
Updated 05/11/2021, 04:20 PM
Bullish sentiment begins to fade after Ethereum all-time high at $4,200

The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion.

In the face of such a mind-blowing performance, neither the futures contracts premium nor the options fear and greed indicator signal extreme optimism in the market. This data will likely lead some analysts to question whether traders are losing confidence in Ether's future price prospects.

Ether price at Coinbase, USD. Source: TradingView
OKEx 3-month Ether futures basis. Source: Skew
30-day Ether options 25% delta skew. Source: laevitas.ch

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