Crypto NewsAnalysisAnalysts Say "The Bear is Over in Ethereum", Announce Predictions for What's...

Analysts Say “The Bear is Over in Ethereum”, Announce Predictions for What’s Next

K33 Research analysts claimed in their latest analysis that the bear season in Ethereum is over. Here are their views.

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Analysts at K33 Research reported a significant shift in market sentiment as Ethereum futures premiums on the Chicago Mercantile Exchange (CME) traded at par with Bitcoin for the first time since August.

This change indicates a more optimistic view in derivative markets following Bitcoin's recent price increase, according to analysts.

“The bearish trend on ETH has disappeared,” said K33 Research Senior Analyst Vetle Lunde and Vice President Anders Helseth. Analysts suggest that investors are less inclined to hedge BTC exposure with ETH, especially as the ETHBTC rate declines to July 2022 lows. This could pave the way for ETH to regain strength compared to BTC after its rate dropped to 0.05, according to analysts.

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Lunde and Helseth also noted that derivatives markets are showing a more positive outlook following Bitcoin's recent price rally.

According to analysts, option traders continue their bullish trend in line with the general mood in derivative markets. The increase in implied volatility following recent price movements indicates that volatility strategies in options trading are becoming more costly.

*This is not investment advice.

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