Derive report: The probability of Ethereum reaching $5,000 by the end of the year is less than 10%

On-chain options protocol Derive said that although the large inflow of funds into the spot Ethereum ETF suggests that a "supply-side crisis" is coming, data shows that Ethereum has less than a 10% chance of reaching the $5,000 mark by the end of 2024. Sean Dawson, head of research at Derive, pointed out in a market report on December 10 that the probability of Ethereum prices reaching $5,000 by December 27 was as high as 16%, but it has recently adjusted to around 8%. According to CoinMarketCap, Ethereum needs to rise 37% from its current price of $3,669 to reach $5,000. Dawson also said that "ETH's bullish and bearish trades are evenly distributed, indicating neutral market sentiment." Ethereum's current all-time high price is $4,878, set in November 2021.