The dramatic resurgence of cryptocurrencies has stalled following a series of corporate earnings stagnation by the U.S. Census Bureau. ethereum It pulled back to $1,500 on Thursday as the data showed the put/call ratio was rising. It is down more than 5.90% from its high this year.
Put-to-call ratio slip
The options market is an important market for all asset classes including cryptocurrencies, stocks and commodities. This includes placing put and call trades on assets. A call gives the trader the right to buy an asset and a put gives the right to sell it.
The put-to-call ratio is an important tool used by traders and investors to predict whether an asset will rise. That’s why it’s an important part of the Fear and Greed Index.
The data edited by the block is that the Ethereum put/call ratio is edgy Slightly increased in the last few days. It rose from 0.24 on January 4th to a high of 0.3. Historically, lower ratios are usually preferred as they mean there are more buyers in the options market. Still, note that The Block’s data is only taken from Deribit and does not include other exchanges.
On the other hand, another data from CoinGlass is number On January 15th, the number of short sale liquidations on major exchanges reached a multi-month high. But at the same time, long liquidations are on the rise. On Wednesday, it climbed to its highest level since his December 16th of last year.
The main reason for these liquidations is the poor performance of companies such as Goldman Sachs and JP Morgan. Some of these companies have warned of a recession and announced significant job cuts. Microsoft is laying off over 10,000 of him.
ethereum price prediction
Ethereum stumbles as put-to-call ratios and long liquidations rise. The stumbling block came as the coin hit $1,612, its highest since November. It is just below the downtrend line marked in purple.
At the same time, it struggled to break past the all-important November 4 high of $1,667. So the outlook for Ethereum remains bullish and the next key takeaway is he believes at $2,000 as I wrote.In this article.
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