🚀 ETH: To soar or... to fall?
$ETH is flying at $4,588 – slightly stronger than $BTC , but signals from the derivatives market are making many furrow their brows.
💥 Open ETH contracts peak at $70 billion
🔥 ELR (the 'risk appetite' ratio) hits a record – indicating traders are as eager as if they are betting in the finals.
🤑 However, the influx of capital into exchanges remains “huge”: over $1.65 billion in new stablecoins and 208,000 ETH “are hiding” – possibly a sign of accumulation!
👉 The question is: Will ETH surpass $4,700 to begin a new journey, or will it “roll down” like a crab?
In summary:
Above 4.7K = Soar straight to 5K
Below 4.7K = Fly... but in a free-fall style! 😅
