#BTCHashratePeak Ethereum options lack euphoria: What is the biggest risk for the USD 5K price level?.

Sustained inflows from exchange-traded funds (ETFs) and corporate reserves could position ETH to surpass and challenge USD 5,000 for the first time in history.

Key takeaways:

ETH rose 41% in a month, but derivative data shows that traders remain cautious, not optimistic.

Institutional inflows and corporate reserves of Ether suggest strong demand, but recession risks cloud the outlook.

Ether ETH 3750 € rose to USD 4,349 on Monday, its highest price since December 2021. Despite outperforming the overall cryptocurrency market by more than 30% over the last 30 days, derivative data shows that ETH traders have not yet turned decisively bullish.

This has raised doubts about the likelihood of a rally to USD 5,000 in the short term.

ETH has gained 41% in the last month, compared to a 9% increase in the total cryptocurrency market capitalization. With such superior performance, the demand for hedging naturally increases, as traders secure their profits and look towards other opportunities. Therefore, it is not surprising that there is little interest in leveraged bullish bets above USD 4,000.