⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Regulatory fears put a damper on Ethereum traders’ $5,000 target

Published 12/02/2021, 05:20 PM
Updated 12/03/2021, 08:40 PM
© Reuters
ETH/BTC
-
BTC/USD
-

This week Ether (ETH) price came within 2% of its all-time high and on Dec. 2, the altcoin reached its highest price in Bitcoin (BTC) terms since May 2018. Ether hitting 0.0835 in its BTC pair represents a 229% gain for 2021, but Ether bulls might come out empty-handed from Dec. 3’s $680 million options expiry.

ETH/BTC price at FTX. Source: TradingView

Notice the ascending channel formation initiated in mid-October, which likely reflects the network’s $177 billion total value locked in smart contracts (TVL). Moreover, Ether's ETH 2.0 beacon chain balance reached an 8.45 million high, which is a 4.5% increase in November.

Ether options aggregate open interest for Dec. 3. Source: Coinglass.com

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.