ETH traders eye $3.2K after ‘golden cross’ debut, but derivatives data tells a different story
04.07.2025
11822
Traders are buzzing about ETH hitting $3,200 thanks to a 'golden cross', but the numbers aren't backing up the hype. Futures and options? Meh.
ETH pumped 9% but couldn't break past $2,600. Traders are hyping a 'golden cross' as a ticket to $3,200, but the derivatives market is giving us the cold shoulder. Weak conviction much?
X user MerlijnTrader is all in on the golden cross, calling it the start of bull runs. But let's not pop the champagne yet—derivatives data is screaming 'hold your horses'.
ETH derivatives signal low confidence amid increased competition
Despite ETH's jump to $2,600, demand for leveraged longs is snoozing. Monthly contracts usually trade at a 5-10% premium, but right now? Barely a whisper above neutral.
Solana's ETF launch stole ETH's altcoin crown and raised the stakes with embedded staking. Unless Ethereum steps up its game, $3,200 is looking like a pipe dream.
- • ETH failed to reclaim $2,600—futures and options traders aren't buying the hype.
- • Ethereum's layer-2 growth isn't fueling ETH demand thanks to dirt-cheap rollup fees.
- • Solana's ETF debut undermined ETH's leadership, slashing odds of a rally past $3,200.
Bottom line: The golden cross might be flashing green, but the smart money isn't convinced. ETH needs more than technical patterns to moon—it needs real utility and demand.
#Bull market#Cryptotrading#Cryptocurrency market#Shift to Ethereum#Technical analysis
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