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Pro traders turn into bears after Ethereum price dropped to $3,200 -Breaking


Pro-traders become bearish after Ethereum’s price drops to $3,200

Ether gained 42% in three weeks.ETHOn April 3, the price of ) reached $3,580. Since then, an adjustment of 12% has been made to $3.140.

Tech giants launching their own smart contract platforms and regulatory uncertainty might have impacted investors’ sentiment and derivatives metrics also show worsening conditions that confirm professional traders’ shift toward a bearish sentiment.

Price in Ether/USD on FTX. TradingView
Rate of 8 hour funding for Ether perpetual futures. Source:
Delta skew 25% for Ether 30 Day Options Source: