ETH Rally Toward $2.5K Held Back By Macro, War, DApp Use
The post ETH Rally Toward $2.5K Held Back By Macro, War, DApp Use appeared on BitcoinEthereumNews.com.
Key takeaways: ETH derivatives signal a shift to safety as professional desks hedge against downside risks and global instability. Institutional preference for decentralization keeps Ethereum dominant despite its recent drop in network activity. Ether (ETH) price dropped by 6% following a brief rally to $2,200 on Wednesday, tracking a downturn in US equities as the war in Iran entered its sixth day. Disruptions to global oil production and Middle East natural gas shipping pushed WTI crude prices to levels not seen since July 2024. Investors lowered their economic growth outlook as the conflict escalated and moved to a risk-off posture. Adding to the day’s uncertainty, a federal judge ruled that the US government must begin paying more than $130 billion in tariff refunds to US-based businesses. Ether remains caught in this macroeconomic crossfire, which has stifled momentum despite a 22% recovery from the $1,800 retest on Feb. 24. Onchain data and derivatives markets currently reflect significant apathy from bulls. ETH 30-day futures annualized premium (basis rate). Source: Laevitas.ch The ETH 30-day futures annualized premium sits well below the 5% neutral threshold, signaling a lack of demand for bullish leverage. However, this metric is weighed down by the fact that ETH trades 58% below its August 2025 all-time high of $4,956. To gauge whether professional desks anticipate further downside, one must analyze the options market. When whales and market makers seek protection against price drops, the ETH options skew (put-call) typically rises above the 6% neutral mark. Extreme market stress can push this indicator past 15%. ETH 30-day options skew (put-call) at Deribit. Source: Laevitas.ch The ETH options skew reached 7% on Thursday after briefly touching neutral levels a day prior. This persistent skepticism among professional traders provides bears with the necessary leverage to fuel further uncertainty. Beyond external macro pressures,…
Filed under: News - @ March 6, 2026 7:26 pm