PANews reported on December 11 that according to Cointelegraph, the on-chain options protocol Derive said that although the massive inflow of funds into the spot Ethereum ETF suggests that a "supply-side crisis" is coming, data shows that the probability of Ethereum reaching the $5,000 mark by the end of 2024 is less than 10%. Sean Dawson, head of research at Derive, pointed out in a market report on December 10 that the probability of Ethereum prices reaching $5,000 by December 27 "once climbed to a peak of 16%, but has recently adjusted to slightly above 8%."
According to CoinMarketCap, Ethereum needs to rise 37% from its current price of $3,669 to reach $5,000. Dawson also said that "ETH's bullish and bearish trades are evenly distributed, indicating that market sentiment is neutral."
