Ether Futures Premiums Make Par With Bitcoin, Reflecting Positive Market Shift: 'The Bearish Stance On ETH Is Gone'
Portfolio Pulse from Benzinga Neuro
Ether futures premiums are now matching Bitcoin futures on the Chicago Mercantile Exchange (CME), indicating a significant shift in crypto market sentiment. Analysts from K33 Research suggest that the negative outlook on Ethereum has faded and traders are less likely to hedge Bitcoin exposure with Ether. The derivatives markets are reflecting a more optimistic outlook following Bitcoin’s latest 4% price rally. However, there is no strong evidence of a consistent rise in spot volumes.
November 02, 2023 | 9:16 am
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POSITIVE IMPACT
Bitcoin futures on the CME are seeing strong demand, with traders maintaining record-high exposure and double-digit futures premiums. This indicates robust institutional demand and an optimistic outlook for November.
The article mentions that Bitcoin futures on the CME are seeing strong demand, with traders maintaining record-high exposure and double-digit futures premiums. This suggests that there is robust institutional demand for Bitcoin and an optimistic outlook for the cryptocurrency in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The negative outlook on Ethereum has faded, with Ether futures premiums now matching Bitcoin futures on the CME. This could lead to Ether regaining ground relative to Bitcoin.
The article mentions that the negative outlook on Ethereum has faded, with Ether futures premiums now matching Bitcoin futures on the CME. This suggests that the market sentiment towards Ethereum is improving and could lead to Ether regaining ground relative to Bitcoin in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90