- Ether rose 4.7% on Wednesday after breaking a seven-day downtrend and moved away from the $4,300 level.
- Derivatives show $344 million of leveraged long liquidations since Aug. 28, but no major increase in short interest, keeping $4,300 as support.
- Options activity briefly favored puts before calls returned; put-to-call ratio measures demand for downside protection versus bullish bets.
- Macro data, including the JOLTS report and higher Gold prices, and a $40 million funding round for **Etherealize** may influence Ether’s path toward $5,000.
Ether (ETH) climbed 4.7% on Wednesday, moving away from the $4,300 level after breaking a seven-day downtrend. The move occurred amid notable outflows from US-listed spot Ethereum exchange-traded funds and mixed derivatives signals.
US-listed spot Ethereum ETFs registered $300 million in net outflows across two sessions, equal to about 1.3% of assets under management, according to data from Farside Investors. Since Aug. 28, leveraged long liquidations totaled $344 million, a factor that weighed on trader sentiment.
Top-trader positioning across spot, futures and margin — tracked by CoinGlass as the long-to-short ratio — fell on some venues such as OKX and Binance on Friday but then stabilized. (Long-to-short ratio compares the size of aggressive long positions to short positions to indicate trader bias.)
Options data showed a spike in put demand between Saturday and Monday, then a reversal toward call activity on Wednesday. The put-to-call ratio measures option premium for puts versus calls and signals rising demand for downside protection when elevated; the options premium data came from laevitas.ch (http://laevitas.ch).
The U.S. Bureau of Labor Statistics JOLTS report released Wednesday showed the job openings-to-unemployed-workers ratio fell to its lowest since April 2021. “Unemployed workers are staying out of work for longer, even as layoffs remain low,” Indeed economist Allison Shrivastava told Yahoo Finance.
Gold hit a new all-time high the same day, and analysts at JP Morgan reportedly raised their gold forecast, citing expectations of Federal Reserve rate cuts. Demand for Ethereum-based financial products also drew attention after Etherealize announced a $40 million funding round led by Electric Capital and Paradigm, according to Fortune.
Derivatives metrics point to resilience, but market participants will watch macroeconomic data and flows as factors that could affect Ether’s advance toward $5,000.
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