For the first time since August, ether futures premiums are trading at the same level as Bitcoin Futures on the Chicago Mercantile Exchange, according to the latest report by K33. Research
“The ETH downside has all but disappeared,” said K33 Senior Research Analyst Vetle Lunde and Vice President Anders Helseth, suggesting that traders are also becoming less likely to hedge bitcoin. ether Especially with the ETHBTC ratio falling to its lowest level in July 2022, this could pave the way for ether to come back stronger against bitcoin after falling to 0.05, according to analysts.
Additionally, the derivatives market is showing a more positive trend following the Bitcoin price rally, which rose 4% over the past week. and has remained above the $35,000 level – Lunde and Helseth said.
Traders on the CME have shown strong confidence in bitcoin, reinforcing strong institutional demand and an uptrend in November. As analysts say
K33 Research analysts also said options traders are maintaining their bullish stance. This is consistent with confidence in derivatives.
Analysts say the market continues to respond to dynamic price movements. The volume surged sharply during active trading and then calmed down.
refer : theblock.co
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