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Can derivatives traders enable Ethereum’s rise to $4400 and beyond
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So far, October has been quite an intriguing month for Ethereum. Strictly speaking, from the price point of view, ETH has been making higher highs on the charts. Despite doing so, the asset’s valuation has not been able to surpass its May highs of $4.4k.
The last couple of days have, in fact, been quite monotonous. After noting a 2.5% daily hike, ETH was seen trading at $4.1k at the time of writing.
ETH/USDT || Source: TradingView
At this point, derivatives traders are taking a lot of risk. The aggregate leverage ratio has been hovering around its local peak of late. Now this indicates one of the following things:
Traders are either very confident about the asset’s price rallying, or two, they’ve given in to greed and merely want to make
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