Derive report: The probability of Ethereum reaching $5000 by the end of the year is less than 10%

ChainCatcher news, the on-chain options protocol Derive indicates that despite the significant influx of funds into spot Ethereum ETFs suggesting an impending "supply-side crisis," data shows that the likelihood of Ethereum reaching the $5,000 mark by the end of 2024 is less than 10%. Derive's research director Sean Dawson noted in a market report on December 10 that the probability of Ethereum's price reaching $5,000 before December 27 had peaked at 16%, but has recently been adjusted to around 8%.

According to CoinMarketCap, Ethereum needs to rise 37% from its current price of $3,669 to reach $5,000. Dawson also stated, "The distribution of bullish and bearish trades for ETH is balanced, indicating a neutral market sentiment." The current all-time high for Ethereum is $4,878, set in November 2021.