ETH price lost the $4,000 level as Bitcoin and altcoins corrected. Is this a standard correction or is something else at play?
Ether (ETH) declined on Dec. 9, retesting the $3,800 level after failing to break above $4,050—a resistance level intact since December 2021. The 5% price drop has raised concerns among traders about the sustainability of the bull run, especially as Bitcoin (BTC) hovers near $100,000.
Investor unease is partly fueled by record-high inflows into Ether exchange-traded funds (ETFs), which failed to translate into a breach of the multi-year resistance level. Despite this, Ether futures data suggests that professional traders remain unfazed, showing no signs of anticipating further corrections.
Ether 2-month futures annualized premium. Source: Laevitas.ch
