- In the grand theater of finance, after a brief intermission of buying fervor two weeks past, the Ethereum spot ETF has concluded its latest act with a rather disheartening curtain call of selling pressure.
- Yet, amidst the chaos, the retail investors and derivatives traders persist, like hopeful spectators, maintaining a flicker of buying pressure that adds a dash of optimism to this otherwise dreary market.
Ethereum’s [ETH] 21% plunge over the last month could be poised for a dramatic reversal, as whispers of bullish sentiment begin to echo through the halls of speculation. But alas, as the clock strikes press time, ETH finds itself down 0.49%. Fear not, for the valiant buying activity from our friends in Korea and the U.S., coupled with a surge in the derivatives market, may yet breathe life into ETH, rallying it into the week ahead.
Institutional Investors: The Profit-Taking Parade
Market sentiment, like a fickle lover, has shifted among the traditional institutional investors clutching their ETH, as revealed by the latest revelations from Glassnode.
Between the 10th and 15th of February, the Ethereum spot ETF took a nosedive, with approximately 14,000 ETH—worth a staggering $37.7 million at the current price of $2,695—being unceremoniously sold off.
This wave of selling could be attributed to the institutional investors cashing in their chips, following a week of bullish trading that felt like a distant memory, reminiscent of the glory days of December.
If this trend continues, we may witness a resurgence of ETH buying activity among traditional investors as the new weekly open dawns.
Korean and U.S. Retail Investors: The Underdogs
While the traditional investors retreated into their shells last week, the retail investors in Korea and the U.S. boldly pressed on, as their respective indexes suggest.
Korean retail investors, the true champions of ETH, have maintained their bullish stance, with the Korea Premium Index remaining above zero since the 14th of December. At press time, it stood at a robust 4.7—an impressive figure indeed!
The Korea Premium Index, a barometer of buying and selling activity on Korean exchanges compared to others, indicates that a reading above zero signifies bullish sentiment, while below zero suggests a descent into bearish territory.
In a similar vein, U.S. retail investors have continued their accumulation of ETH, albeit in more modest quantities. This is reflected in the Coinbase Premium Index, which, at press time, stood at a mere 0.02.
If the buying fervor among both investor factions persists, it could further bolster ETH’s bullish sentiment, propelling prices to new heights—or at least to a slightly less dismal state.
Derivatives Traders: The Unsung Heroes
Among the cacophony of market activity, derivatives traders have been notably active. The Taker Buy-Sell Ratio, which measures the balance of buy volume to sell volume, has reached 1.033, indicating a preponderance of buyers in the market.
A ratio above 1 signifies that the buying pressure among derivatives traders is on the rise, much like a well-timed punchline in a tragicomedy.
This sentiment is echoed by the Funding Rate, which has turned positive and settled at 0.0090 at the time of press. A positive Funding Rate suggests that buyers are not only dominant but are also willing to pay a premium to maintain the market’s delightful disparity in perpetual and swap exchanges.
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2025-02-17 10:20