Ethereum’s Prospects of Reaching $5000 by December Dwindle Below 10%

The likelihood of Ethereum reaching the $5000 mark by the end of the year has fallen to less than 10%, according to Cointelegraph, citing data from Derive.

“At its peak, the figure rose to 16%, but recently it has decreased to just over 8%,” clarified Sean Dawson, head of research at the options exchange, in a report.

The expert added that trading in Ethereum put and call options is evenly distributed, indicating a neutral market sentiment.

At the time of writing, the cryptocurrency is trading near $3720, approximately 24% below its all-time high of $4878 (CoinGecko).

A trader known as CoinMamba expressed a more optimistic view. For him, $5000 remains a target price for Ether by the year’s end.

My target for $ETH is still $5k by the end of this year. Do what you will with that information..

— CoinMamba (@coinmamba) December 10, 2024

“Do what you will with that information,” he stated.

Eric Conner, founder of EthHub, noted that on December 10 alone, Ethereum ETFs attracted $305 million. In his view, a “supply-side crisis” for the coin is looming.

$305mn into ETH ETFs today

Supply side crisis incoming

— eric.eth (@econoar) December 11, 2024

“TradFi is absorbing cheap ETH,” commented Ethereum researcher Anthony Sassano on the influx.

According to SoSoValue, daily inflows into spot price-based cryptocurrency ETFs have remained positive since November 22.

Earlier, several experts identified signals of a potential new high for Ethereum in the near future, citing ETF inflows as one of the arguments.