CoinVoice has learned that the on-chain options protocol Derive indicates that despite the significant influx of funds into spot Ethereum ETFs suggesting an impending 'supply-side crisis', the data shows that the likelihood of Ethereum reaching the $5,000 mark before the end of 2024 is less than 10%. Derive's research director Sean Dawson pointed out in the market report on December 10 that the probability of Ethereum reaching $5,000 before December 27 is as high as 16%, but has recently been adjusted to around 8%.
According to CoinMarketCap, Ethereum needs to rise 37% from its current price of $3,669 to reach $5,000. Dawson also stated, 'The bullish and bearish trading distribution of ETH is even, indicating a neutral market sentiment.' Ethereum's current all-time high is $4,878, set in November 2021. [Original link]
