Ethereum Price Drops Despite Bullish Signals in Derivatives Markets
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Ether (ETH) price has declined 14.7% since its April peak, despite optimism in derivatives markets.
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Two potential drivers of optimism are impending Bitcoin ETF approvals and upcoming Ethereum upgrades like Surge and Dencun.
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Ethereum competitors like Avalanche and Aptos have faced challenges maintaining transaction records, reinforcing Ethereum's position.
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Ether futures premium has hit a 1-year high, indicating growing demand for leveraged long positions.
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Ether options skew has turned heavily negative, signaling traders are willing to pay high premiums for upside exposure.