Look out below! Ethereum derivatives data hints at further downside from ETH
Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current market wide volatility were the bankruptcy fears that emerged after Coinbase (NASDAQ:), the largest U.S. exchange reported a $430 million first-quarter 2022 loss.
In the most recent 10-Q filing Coinbase included the following disclosure:
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