Originally published on: December 11, 2024
According to Derive, Ethereum has less than a 10% chance of reaching the coveted $5,000 mark by the end of the year. Despite an influx of funds into Ether ETFs, suggesting a potential “supply-side crisis,” the probability of Ether hitting $5,000 by December 27 has decreased to just over 8%.
Currently priced at $3,669, Ether would need a 37% increase to reach $5,000, as per CoinMarketCap data. Derive’s head of research, Sean Dawson, noted that trading activities for ETH options indicate a neutral market sentiment, with calls and puts evenly distributed.
However, not everyone shares Derive’s outlook. Crypto trader CoinMamba remains optimistic, maintaining a target of $5,000 for ETH by the end of the year. With conflicting opinions in the market, the future of Ether’s price remains uncertain.
On December 10, Ethereum contributor Eric Conner highlighted the $305 million daily inflows into Ether ETFs as a sign of an impending supply crisis. This sentiment was echoed by Ethereum educator Anthony Sassano, who noted an increasing interest in ETH among traditional finance players.
While some believe that a new all-time high for Ether is on the horizon, others caution against hasty predictions. With structural changes and significant ETF flows impacting Ether’s price, the cryptocurrency market continues to be a dynamic and unpredictable environment.
Disclaimer: This article does not provide investment advice. Readers are encouraged to conduct their own research and analysis before making any financial decisions. Subscribe to our Markets Outlook newsletter for more insights into investment opportunities and trading strategies.
