Look out below! Ethereum derivatives data hints at further downside from ETH By Cointelegraph

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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:

Ether 30-day options 25% delta skew: Source: Laevitas.ch
Exchanges’ top traders Ether long-to-short ratio. Source: Coinglass