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The recent increase in Ethereum's price indicates potential growth, although cautious sentiment from traders may hinder sustained momentum.
Key Takeaways:
ETH rose 13.5% in two days to reach $3,000, but the derivatives markets remain neutral.
The Ethereum futures premium is modest, and options data suggest a balanced position.
$ETH
The growth of Layer-2 and the increase in TVL have not yet significantly driven demand for ETH or network fees.
Ethereum (ETH) briefly regained the $3,000 mark on Thursday, culminating in a 13.5% rally over two days. However, derivatives data suggest that professional traders remain cautiously positioned, showing limited conviction that the bullish trend will hold.