Ether futures entering discount territory on CME suggests bearish outlook: K33 Research | Headlines | News | CoinMarketCap
09/13/2023 21:37
The ether futures market has entered discount territory, signaling an unusually bearish outlook on the Chicago Mercantile Exchange (CME) ahead of …
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Published on September 13, 2023 14:29 GMT+00:00edited on September 13, 2023 14:34 GMT+00:00
The ether futures market has entered discount territory, signaling an unusually bearish outlook on the Chicago Mercantile Exchange (CME) ahead of expected ether futures ETFs, according to crypto research firm K33 Research.
Ether futures have traded at a lower premium compared to bitcoin futures in recent weeks, with the gap widening over the past week, K33 Senior Analyst Vetle Lunde and Vice President Anders Helseth noted in a new report. Ether futures are now trading at a discount price compared to the spot market.
Below-average funding rates on perpetual contracts, combined with a 5% spike in open interest and options traders paying a premium for puts with shorter expiries further amplify the bearish sentiment, the analysts said. Perpetuals are similar to futures contracts but …