Derive report: The probability of Ethereum reaching $5,000 by the end of the year is less than 10%
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Odaily report: The on-chain options protocol Derive states that although the massive inflow of funds into the spot Ethereum ETF suggests an impending "supply-side crisis", data shows that the likelihood of Ethereum reaching $5,000 by the end of 2024 is less than 10%. Derive's research head Sean Dawson noted in a market report on December 10 that the probability of Ethereum price reaching $5,000 before December 27 "had previously risen to 16%, but has recently adjusted to slightly above 8%". According to CoinMarketCap, Ethereum needs to rise 37% from its current $3,669 price to reach $5,000. Dawson also said that "the distribution of bullish and bearish ETH trades is balanced, indicating a neutral market sentiment." Ethereum's current all-time high price is $4,878, set in November 2021.
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