Taker Buy Sell Ratio Nears Equilibrium<\/strong><\/h2>\nThe second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs.<\/p>\n![](\"https:\/\/www.tradingview.com\/x\/Pz67Fhfy\/\")
Ethereum is now trading at $3,693. Chart: TradingView<\/a><\/figcaption><\/figure>\nSEC Okays Spot Ethereum ETFs, Market Expectations Reversed<\/strong><\/h2>\nThe news that the US SEC has approved spot Ethereum ETFs has triggered a sudden reversal in the market’s predictions for Ethereum ETF rejection this week, and hence, the price of Ethereum (ETH) is fluctuating wildly in late Thursday activity.<\/span>
\n<\/span><\/p>\nEthereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500.<\/p>\n
\nBOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum<\/a> ETFs. What a turn of events. It’s really happening.<\/p>\nh\/t @PhoenixTrades_<\/a> pic.twitter.com\/KQ39mDyCbT<\/a><\/p>\n\u2014 James Seyffart (@JSeyff) May 23, 2024<\/a><\/p><\/blockquote>\nLeading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line.<\/span> This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range.
\n<\/span><\/p>\nRelated Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House<\/a><\/div>\nNoted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics.<\/span> Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted.
\n<\/span><\/p>\n![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_81eb4f.png?resize=1019%2C569\")
Source: CryptoQuant<\/figcaption><\/figure>\nFutures Open Interest Reaches New Highs<\/strong><\/h3>\nThe Futures Open Interest statistic adds still another data point supporting the optimistic view.<\/span> This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise.
\n<\/span><\/p>\nRelated Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation<\/a><\/div>\nAnother crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high<\/a> of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future.
\nInterest has skyrocketed to a new all-time high<\/a> of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future.<\/p>\nThe all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this.<\/p>\n
Featured image from Explorersweb, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. Related Reading: Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 Taker Buy Sell Ratio Nears Equilibrium The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. SEC Okays Spot Ethereum ETFs, Market Expectations Reversed The news that the US SEC has approved spot Ethereum ETFs has triggered a sudden reversal in the market’s predictions for Ethereum ETF rejection this week, and hence, the price of Ethereum (ETH) is fluctuating wildly in late Thursday activity. Ethereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500. BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It’s really happening. h\/t @PhoenixTrades_ pic.twitter.com\/KQ39mDyCbT \u2014 James Seyffart (@JSeyff) May 23, 2024 Leading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line. This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range. Related Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House Noted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics. Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted. Futures Open Interest Reaches New Highs The Futures Open Interest statistic adds still another data point supporting the optimistic view. This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise. Related Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation Another crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future. Interest has skyrocketed to a new all-time high of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future. The all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this. Featured image from Explorersweb, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":609638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1558,8323,1946,8686,78803,3504],"class_list":["post-609626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-cryptocurrency","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt","tag-price"],"acf":[],"yoast_head":"\n
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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree","url":"http:\/\/wncen.com\/news\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_ee2759.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_ee2759.jpg?fit=1440%2C1080"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","cryptocurrency","eth","ethereum","ethusd","ethusdt","price"],"dateCreated":"2024-05-24T12:30:11Z","datePublished":"2024-05-24T12:30:11Z","dateModified":"2024-07-11T08:26:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_ee2759.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_ee2759.jpg?fit=1440%2C1080\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"cryptocurrency\",\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\",\"price\"],\"dateCreated\":\"2024-05-24T12:30:11Z\",\"datePublished\":\"2024-05-24T12:30:11Z\",\"dateModified\":\"2024-07-11T08:26:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_ee2759.jpg?fit=1440%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=609626"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/609638"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=609626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=609626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=609626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
SEC Okays Spot Ethereum ETFs, Market Expectations Reversed<\/strong><\/h2>\nThe news that the US SEC has approved spot Ethereum ETFs has triggered a sudden reversal in the market’s predictions for Ethereum ETF rejection this week, and hence, the price of Ethereum (ETH) is fluctuating wildly in late Thursday activity.<\/span>
\n<\/span><\/p>\nEthereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500.<\/p>\n
\nBOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum<\/a> ETFs. What a turn of events. It’s really happening.<\/p>\nh\/t @PhoenixTrades_<\/a> pic.twitter.com\/KQ39mDyCbT<\/a><\/p>\n\u2014 James Seyffart (@JSeyff) May 23, 2024<\/a><\/p><\/blockquote>\nLeading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line.<\/span> This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range.
\n<\/span><\/p>\nRelated Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House<\/a><\/div>\nNoted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics.<\/span> Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted.
\n<\/span><\/p>\nSource: CryptoQuant<\/figcaption><\/figure>\nFutures Open Interest Reaches New Highs<\/strong><\/h3>\nThe Futures Open Interest statistic adds still another data point supporting the optimistic view.<\/span> This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise.
\n<\/span><\/p>\nRelated Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation<\/a><\/div>\nAnother crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high<\/a> of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future.
\nInterest has skyrocketed to a new all-time high<\/a> of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future.<\/p>\nThe all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this.<\/p>\n
Featured image from Explorersweb, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. Related Reading: Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 Taker Buy Sell Ratio Nears Equilibrium The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. SEC Okays Spot Ethereum ETFs, Market Expectations Reversed The news that the US SEC has approved spot Ethereum ETFs has triggered a sudden reversal in the market’s predictions for Ethereum ETF rejection this week, and hence, the price of Ethereum (ETH) is fluctuating wildly in late Thursday activity. Ethereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500. BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It’s really happening. h\/t @PhoenixTrades_ pic.twitter.com\/KQ39mDyCbT \u2014 James Seyffart (@JSeyff) May 23, 2024 Leading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line. This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range. Related Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House Noted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics. Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted. Futures Open Interest Reaches New Highs The Futures Open Interest statistic adds still another data point supporting the optimistic view. This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise. Related Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation Another crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future. Interest has skyrocketed to a new all-time high of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future. The all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this. Featured image from Explorersweb, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":609638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1558,8323,1946,8686,78803,3504],"class_list":["post-609626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-cryptocurrency","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt","tag-price"],"acf":[],"yoast_head":"\n
Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree<\/title>\n<meta name=\"description\" content=\"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin's price has\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree\" \/>\n<meta property=\"og:description\" content=\"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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\n<\/span><\/p>\n
Ethereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500.<\/p>\n
\nBOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum<\/a> ETFs. What a turn of events. It’s really happening.<\/p>\n
h\/t @PhoenixTrades_<\/a> pic.twitter.com\/KQ39mDyCbT<\/a><\/p>\n
\u2014 James Seyffart (@JSeyff) May 23, 2024<\/a><\/p><\/blockquote>\n
Leading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line.<\/span> This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range.
\n<\/span><\/p>\nRelated Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House<\/a><\/div>\nNoted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics.<\/span> Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted.
\n<\/span><\/p>\nSource: CryptoQuant<\/figcaption><\/figure>\n Futures Open Interest Reaches New Highs<\/strong><\/h3>\n
The Futures Open Interest statistic adds still another data point supporting the optimistic view.<\/span> This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise.
\n<\/span><\/p>\nRelated Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation<\/a><\/div>\nAnother crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high<\/a> of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future.
\nInterest has skyrocketed to a new all-time high<\/a> of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future.<\/p>\nThe all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this.<\/p>\n
Featured image from Explorersweb, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. Related Reading: Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 Taker Buy Sell Ratio Nears Equilibrium The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin’s price has surged; analysts are now pointing to indications in the derivatives market that this increase could have legs. SEC Okays Spot Ethereum ETFs, Market Expectations Reversed The news that the US SEC has approved spot Ethereum ETFs has triggered a sudden reversal in the market’s predictions for Ethereum ETF rejection this week, and hence, the price of Ethereum (ETH) is fluctuating wildly in late Thursday activity. Ethereum was trading as of right now for roughly $3,777. That is far lower than the prior session highs of over $4,000 and far higher than the low of $3,500. BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It’s really happening. h\/t @PhoenixTrades_ pic.twitter.com\/KQ39mDyCbT \u2014 James Seyffart (@JSeyff) May 23, 2024 Leading crypto analytics tool CryptoQuant recently noted that, based on a 7-day simple moving average, ETH’s Taker Buy Sell Ratio is about ready to pass over its 1-center line. This suggests a drop in sell orders and maybe increasing purchasing pressure. This implies that the currency might soon recover the $4,000 pricing range. Related Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House Noted ShayanBTC, a pseudonymous analyst at CryptoQuant, this rising tendency in the Taker Buy Sell Ratio suggests a possible change in market dynamics. Should the ratio keep rising, it could indicate a decline in aggressive selling pressure, which would be favourable for ETH’s price ShayanBTC noted. Futures Open Interest Reaches New Highs The Futures Open Interest statistic adds still another data point supporting the optimistic view. This statistic counts all of the outstanding futures contracts unclosed or settled. An increasing Open Interest indicates that more traders are joining fresh positions maybe in expectation of a price rise. Related Reading: XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation Another crypto analytics tool, Coinglass claims, ETH’s Futures Open Interest has surged to a new all-time high of $16 billion. This signals a rise in market involvement as more traders predict ETH’s future. Interest has skyrocketed to a new all-time high of $16 billion. This signifies a surge in market participation, with more traders betting on ETH’s future. The all-time high OI points to notable rise in investor confidence. Growing institutional acceptance of ETH and the forthcoming Ethereum 2.0 update could be among the various reasons for this. Featured image from Explorersweb, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":609638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1558,8323,1946,8686,78803,3504],"class_list":["post-609626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-cryptocurrency","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt","tag-price"],"acf":[],"yoast_head":"\n
Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree<\/title>\n<meta name=\"description\" content=\"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. Following months of languishing, the coin's price has\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum-eyes-4000-comeback-fueled-by-bullish-buying-spree\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree\" \/>\n<meta property=\"og:description\" content=\"The second biggest cryptocurrency in the world, Ethereum (ETH), has lately been on a roller coaster. 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