emre yumlu 
Derive states that the chances of Ethereum reaching $5,000 are low, but traders are more optimistic due to ETF inflows.
Onchain options protocol Derive states that data shows the chances of Ethereum reaching the anticipated $5,000 mark by the end of 2024 are less than 10%. However, significant inflows into spot Ether exchange-traded funds (ETFs) point to an impending “supply-side crisis.”
In a market report on December 10, Derive’s research director Sean Dawson said that the probability of Ethereum reaching $5,000 by December 27 peaked at 16%, but has recently dropped to just over 8%.
Ether’s chances of reaching $5,000 by the end of the year have decreased by about 50%. Source: Derive.xyz
According to CoinMarketCap, ETH needs a 37% increase from its current price of $3,669 to reach $5,000. Dawson added, “The distribution of call and put options for ETH is balanced, indicating a neutral market sentiment.”
TradFi is Scooping Up Cheap ETH!
Pseudonymous crypto trader CoinMamba, in a post on X on December 10, stated…
“My target for ETH is still $5,000 by the end of the year,” he said. “Do what you will with that information,” he added.
At the time of publication, Ether was trading at $3,661. Source: CoinMarketCap
Meanwhile, in an X post on the same day, Eric Conner stated that the $305 million in daily inflows into Ether ETFs on December 10 signal an impending “supply-side crisis.” Ethereum educator Anthony Sassano added, “TradFi is gobbling up the cheap ETH.” According to Farside data, $202.2 million of the $305 million in inflows came from the Fidelity Ethereum Fund.
Ethereum Is Expected to Reach a New ATH This Week
This follows a statement from Bankless podcast host Ryan Adams on December 9, suggesting that a new all-time high for Ether “could happen” within the next week.
Ether’s current all-time high is $4,878, reached in November 2021.
Meanwhile, pseudonymous crypto trader Pentoshi, in an X post on December 9 to his 830,900 followers, said Ether is experiencing “structural changes and the beginning of significant ETF flows.”
Highlighting that ETH had its “highest weekly close of the year,” Pentoshi echoed Adams’ sentiment, suggesting that the retest of Ether’s all-time high could happen sooner than many traders anticipate.
You can share your opinions in the comments about the topic. Also, follow us on Telegram, Twitter, and YouTube for more content like this.