Ethereum price reaches lowest level relative to Bitcoin in 5 months

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Ethereum was supposed to rally after the Merge hard fork allowed a much lower issuing rate. Unfortunately, it did not go that way, and noshitcoins shows why $ETH derivatives show bulls lacking conviction.

The price ratio of 0.068 ETH/BTC had been holding since October 2022, a support that was broken on March 15. Whatever the reason for the underperformance, traders currently have little confidence in placing leverage bets, according to ETH futures and options data.

, occurred. It enabled a much lower, even negative, coin issuing rate. But, more importantly, the change paved the way for parallel processing that aimed to bring scalability and lower transaction costs to the Ethereum network., is the next step in the Ethereum network upgrade. The change will allow validators who previously deposited 32 ETH to enter the staking mechanism to withdraw in part or in full.

Nonetheless, declining demand for leverage longs does not necessarily imply an expectation of negative price action. As a result, traders should examineLark Davis on fighting social media storms, and why he’s an ETH bull — Hall of FlameThe 25% delta skew is a telling sign when market makers and arbitrage desks are overcharging for upside or downside protection. In bear markets, options investors give higher odds for a price dump, causing the skew indicator to rise above 8%.

 

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noshitcoins $ETH is dead.

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