Ethereum derivatives data shows pro traders are bearish, but for how long?

2022.04.13 19:56

Ethereum derivatives data shows pro traders are bearish, but for how long?

Ether (ETH) lost the critical $3,000 psychological support level on April 11 after a 16% weekly negative performance. Bulls were definitively caught by surprise as $104 million in leveraged long futures got liquidated on April 11. Ether’s downturn also followed a decline in the total value locked (TVL) in Ethereum smart contracts.

The metric peaked at 40.6 million Ether on Jan. 27, and has since dropped by 22%. This indicator could partially explain why Ether could not withstand the adversity brought by Bitcoin‘s (BTC) 13% weekly negative move.

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