According to Cointelegraph, Derive said that despite significant inflows into spot Ethereum ETFs, data shows that the probability of Ethereum reaching $5,000 before the end of 2024 is less than 10%.
Sean Dawson, head of research at Derive, said in a market report on December 10 that the probability of Ethereum reaching $5,000 was as high as 16%, but has recently adjusted to slightly above 8%.
CoinMarketCap data shows that ETH needs to rise 37% from the current $3,669 to reach $5,000. Dawson added that ETH's bullish and bearish option trading is balanced, indicating that market sentiment is neutral.
Anonymous trader CoinMamba said in a post on X on December 10 that their goal is still to reach $5,000 for ETH by the end of the year. Ethereum contributor Eric Conner pointed out that the daily inflow of Ethereum ETF on December 10 reached $305 million, suggesting that a supply crisis is imminent.
Farside data shows that the Fidelity Ethereum Fund (FETH) accounts for $202.2 million. Bankless podcast host Ryan Adams says that Ethereum could reach an all-time high next week.
