エーテル (ETH) 価格が上昇 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. その間, ビットコイン (BTC) could not sustain the $50,000 マーク, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics.

意外と, the opposite situation emerges when looking at the sentiment of Ether traders who currently show a reasonable degree of confidence in the current price level.

Regulatory pressure and spectacular NFT growth back traders confidence in Ether

月曜日に, 夜明けの切り株, a commissioner at the Commodity Futures Trading Commission (CFTC), stated that:

A trading platform that offers derivatives on digital assets to U.S. 登録していない人, またはCFTC取引規則に違反している, is subject to the CFTC’s enforcement authority.

It is unclear why Bitcoin’s and Ether’s reaction to the news would be any different, but it is worth noting that commissioner Stump is only one of four to six CFTC members on panels that regulate commodities.

その間, payment processor giant Visa surprised the NFT market, announcing a $150,000 CryptoPunk acquisition. キューシェフィールド, the head of crypto at the $500 billion market cap company said:

With our CryptoPunk purchase, 最初に足を踏み入れます. This is just the beginning of our work in this space.

For those unfamiliar, the Ethereum network is the absolute leader in the NFT segment, and a single marketplace called OpenSea has processed more than $1 billion worth of transactions in the past 30 日々.

エーテル (ETH) price in USD at Kraken. ソース: TradingView

Pro traders are neutral-to-bullish according to futures markets

To understand how bullish or bearish professional traders are leaning, one should analyze the futures basis rate. The basis is also frequently referred to as the futures premium, and it measures the difference between longer-term futures contracts and the current spot market levels.

A 5% に 15% 健全な市場では年間保険料が見込まれます, in a situation known as contango. This price difference is caused by sellers demanding more money to withhold settlement longer.

しかしながら, this indicator fades or turns negative during bearish markets and flashed a red flag known as ‘backwardation’.

Bitcoin 3-month futures annualized basis. ソース: laevitas.ch

上に描かれているように, 現在 11% annualized premium is neutral but much better than one month ago when the metric held below 5%. それにもかかわらず, a healthy market does not need excessive optimism from pro traders, which usually ends with excessive leverage longs and a basis rate above 15%.

Options traders have been flirting with ‘greed

先物商品に固有の外部性を除外するには, one should also analyze options markets.

ザ・ 25% デルタスキューは同様の呼び出しを比較します (購入) そして、置きます (売る) オプション. The metric will turn positive when fear is prevalent as the protective put options premium is higher than similar risk call options.

The opposite holds when market makers are bullish, 原因 25% delta skew indicator to shift to the negative area. Readings between negative 8% and positive 8% are usually deemed neutral.

Deribit ETH options 25% デルタスキュー. ソース: ボラティリティ

Notice how Ether option traders have been flirting with the ‘greedlevel since Aug. 7 when the indicator dropped below the negative 8 しきい値. This data validates the futures contract premium, which has improved over the past couple of weeks and is currently sustaining a healthy ‘neutral’ レベル.

Derivatives data shows the pro traders that are more active on quarterly futures and Ether options trading sitting comfortably at the time of writing.

ここに記載されている見解や意見は、 著者 必ずしもコインテレグラフの見解を反映しているわけではありません. すべての投資と取引の動きにはリスクが伴います. 決定を下すときは、独自の調査を行う必要があります.