CoinVoice has recently learned that the on-chain options protocol Derive indicates that despite a massive influx of funds into the spot Ethereum ETF suggesting an impending "supply-side crisis," the data shows that the likelihood of Ethereum reaching the $5000 mark by the end of 2024 is less than 10%. Derive's research director Sean Dawson noted in the market report on December 10 that the probability of Ethereum's price reaching $5000 before December 27 is as high as 16%, but has recently been adjusted to around 8%.
According to CoinMarketCap, Ethereum needs to rise by 37% from its current price of $3669 to reach $5000. Dawson also stated, "The distribution of bullish and bearish trades for ETH is evenly spread, indicating a neutral market sentiment." Ethereum's current all-time high is $4,878, reached in November 2021. [Original link]
