Ethereum

Onchain options protocol Derive says data shows Ethereum has less than a 10% chance of hitting the much-anticipated $5,000 mark by the end of 2024, despite significant inflows into spot Ether exchange-traded funds (ETFs) hinting at a looming “supply-side crisis.” 
The probability that Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) will reach $5,000 by Dec. 27 “climbed to 16% at its peak but has recently adjusted down to just over 8%,” Derive head of research Sean Dawson said in a Dec. 10 markets report.
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 <img alt="Cryptocurrencies, Markets" src="https://s3.cointelegraph.com/uploads/2024-12/0193b432-e7d8-7923-9514-f6e73c264b84" title="">
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 Ether’s chances of reaching $5,000 by the end of the year have fallen by about 50%. Source: Derive.xyz
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ETH needs a 37% jump from its current price of $3,669 to reach $5,000, CoinMarketCap <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/ethereum/" rel="null" target="null" text="null" title="null">shows</a>.
Dawson added that “the trading of calls and puts for ETH is evenly distributed, suggesting a neutral market sentiment.”
<h2 id="tradfi-is-gobbling-up-cheap-eth-trader">“TradFi is gobbling up cheap ETH” — trader</h2>
Pseudonymous crypto trader CoinMamba holds a different view, saying in a Dec. 10 X <a data-ct-non-breakable="null" href="https://x.com/coinmamba/status/1866574507839983977" rel="null" target="null" text="null" title="null">post</a> that their “target for ETH is still $5k by the end of this year.”
“Do what you will with that information,” they added.
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 <img alt="Cryptocurrencies, Markets" src="https://s3.cointelegraph.com/uploads/2024-12/0193b433-c554-700b-ab2b-3053d3535868" title="">
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 Ether was trading at $3,661 at the time of publication. Source: CoinMarketCap
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Meanwhile, in an X <a data-ct-non-breakable="null" href="https://x.com/econoar/status/1866661196935631316" rel="null" target="null" text="null" title="null">post</a> on the same day, Ethereum contributor Eric Conner pointed to the $305 million in Ether ETF daily inflows on Dec. 10 as a signal that a “supply side crisis” is coming.
Ethereum educator Anthony Sassano <a data-ct-non-breakable="null" href="https://x.com/sassal0x/status/1866658531514130662" rel="null" target="null" text="null" title="null">added</a> that “TradFi is gobbling up the cheap ETH.”&nbsp;
Of the $305 million in inflows, Fidelity Ethereum Fund accounted for $202.2 million, according to Farside <a data-ct-non-breakable="null" href="https://farside.co.uk/ethereum-etf-flow-all-data/" rel="null" target="null" text="null" title="null">data</a>.
<h2 id="ether-new-all-time-high-call-within-the-week">Ether new all-time high call within the week</h2>
This follows a Dec. 9 <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-price-chart-signal-crypto-traders-all-time-highs-next-week" rel="null" target="null" text="null" title="null">claim from </a><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-price-chart-signal-crypto-traders-all-time-highs-next-week" rel="null" target="null" text="null" title="null">Bankless</a><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-price-chart-signal-crypto-traders-all-time-highs-next-week" rel="null" target="null" text="null" title="null"> podcast host Ryan Adams</a>, who suggested that a new Ether all-time high “could happen” within the next week. Ether’s current all-time high is $4,878, reached in November 2021.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-5k-blackrock-eth-etf-holdings-2x-500-m" rel="null" target="null" text="null" title="null">Ether to $5K on fractals, BlackRock ETH ETF holdings 2x with $500M buy</a>
Meanwhile, pseudonymous crypto trader Pentoshi said in a Dec. 9 X <a data-ct-non-breakable="null" href="https://x.com/cryptoposeidonn/status/1865864241938346320?s=46" rel="null" target="null" text="null" title="null">post</a> to his 830,900 followers that Ether “is having structural changes as well as the beginning of consistent and large ETF flows.”&nbsp;
They highlighted that ETH had its “highest weekly close of the year” and echoed Adams’ sentiment, suggesting a retest of its all-time high could happen sooner than many traders anticipate.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/normie-degens-go-all-in-on-sports-fan-crypto-tokens-for-the-rewards/" rel="null" target="null" text="null" title="null">‘Normie degens’ go all in on sports fan crypto tokens for the rewards</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum has less than 10% chance of tapping $5K by year-end, says Derive

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