TradingView News Reports Deribit’s Prediction: Ethereum’s Likelihood Under 10% to Hit $5K by Year’s End

According to Derive, an on-chain options analytics platform, Ethereum’s probability of surpassing the $5,000 threshold by the end of 2024 is below 10%. This is in contrast to the substantial capital inflow into spot Ethereum ETFs, which appears to foreshadow an impending “supply-side crisis.”

Derive’s research leader, Sean Dawson, noted on December 10 that the likelihood of Ether ETHUSD achieving the $5,000 target by December 27 climbed as high as 16% but has since adjusted to slightly above 8%.

For ETH to reach $5,000, its value would need to climb by 37% from the current price of $3,669, as per CoinMarketCap.

Furthermore, Dawson observed that the trading of both call and put options for ETH is quite balanced, indicating a market with neutral expectations.

‘Traditional Finance is acquiring ETH while it’s inexpensive’ — a trader’s viewpoint

A different sentiment is expressed by the crypto trader known as CoinMamba. On December 10, they projected via an X post that ETH is destined to reach the $5k mark by the year’s end.

“Take from that what you will,” they cautioned.

Eric Conner, an Ethereum proponent, cited December 10’s ETH ETF investments totaling $305 million as a potential sign of an impending supply squeeze.

Ethereum analyst Anthony Sassano commented on the event by noting that the traditional finance sector is actively acquiring undervalued ETH.

Of the notable $305 million inflow, the Fidelity Ethereum Fund captured a striking $202.2 million, as reported by Farside.

Forecast for Ethereum to reach a new all-time high in the coming week

On December 9, Ryan Adams from the Bankless podcast speculated that Ethereum could achieve a new all-time high in the upcoming week, referencing the current peak of $4,878 achieved in November 2021.

Similarly, a well-followed crypto trader known as Pentoshi put forth on the same date via an X post that Ethereum is undergoing fundamental changes with the advent of significant, continual ETF inflows.

Highlighting the currency’s “highest weekly close of the year,” Pentoshi shared Adams’ outlook, proposing that the retest of the all-time high might occur much sooner than expected by the market.

Please note that this article does not offer investment advice or recommendations. All investment and trading actions entail risks, and it is recommended that readers perform their own due diligence before making decisions.