Ethereum’s Price Drama: Will It Rise Like a Phoenix or Just Flop? 🔥
Behold, the key on-chain metrics that stand as steadfast sentinels, supporting the notion of an imminent ETH price recovery. After a rather theatrical rejection at $2,700, Ethereum has corrected a dramatic 9% in the last two days, plummeting to $2,500 once more. This unfortunate turn of events has led to a staggering $160 million in liquidations of overly optimistic bullish leveraged ETH futures positions. Yet, despite this melodrama, the ETH futures’ annualized premium remains a steadfast 6%. How delightfully ironic! 😏