{"id":597690,"date":"2024-03-14T02:00:11","date_gmt":"2024-03-14T02:00:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=597690"},"modified":"2024-03-13T18:01:29","modified_gmt":"2024-03-13T18:01:29","slug":"ethereum-faces-potential-downfall-as-dencun-upgrade-looms","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\/","title":{"rendered":"Market Alert: Ethereum Faces Potential Downfall As Dencun Upgrade Looms – Here\u2019s Why"},"content":{"rendered":"

Ethereum (ETH) is poised for a notable improvement with the impending Dencun upgrade to enhance the network’s scalability. However, amidst this anticipation, QCP Capital, a seasoned crypto asset trading firm, has shed light<\/a> on an emerging trend that might influence Ethereum’s price trajectory.<\/p>\n

The firm’s analysis reveals a shift in “risk reversals” for Ethereum, turning negative for upcoming expiries. This shift indicates growing concerns among investors about a potential decrease in ETH’s price, as a negative risk reversal often suggests a market leaning towards protective measures against a downturn.<\/p>\n

Related Reading: These Are The Ethereum Altcoins Witnessing High Whale Interest<\/a><\/div>\n

Market Leverage And Correction Concerns<\/h2>\n

Notably, this trend towards negative risk reversals has been attributed to an increased interest in put options, which serve as a hedge against potential losses for those speculating on price increases.<\/p>\n

Moreover, the broader altcoin market participants are similarly hedging their investments in Ethereum, aiming to mitigate risks associated with their altcoin holdings<\/a>.<\/p>\n

QCP Capital’s insights into the market dynamics also highlight an underlying nervousness about Ethereum’s price stability, especially in light of the considerable leverage within the market<\/a>.<\/p>\n

The firm cautions about the potential for a market correction, albeit with an expectation of strong buying interest in the event of any price dips. QCP noted in the report:<\/p>\n

Altcoin speculators might also be buying ETH puts as a proxy to hedge altcoin downside. This makes us wary of a possible correction given the amount of leverage in the market. However, we think that the market will buy any dip aggressively.<\/p><\/blockquote>\n

Additionally, Ethereum’s spot-forward spreads have decreased slightly, contrasting with Bitcoin’s sustained high spreads. Commenting on the implication for investors, QCP Capital stated:<\/p>\n

A sharp drop in spot price is likely to drag the forward spreads lower as leverage longs get taken out.<\/p><\/blockquote>\n

Ethereum Performance And Outlook<\/h2>\n

Despite the cautionary signals, Ethereum continues to perform “robustly” in the crypto market, closely trailing Bitcoin regarding price movements. Currently trading above $4,000<\/a>, Ethereum has witnessed a modest increase of 0.6% over the past 24 hours.<\/p>\n

\"Ethereum
ETH price is moving sideways on the 2-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Moreover, data from IntoTheBlock (ITB) reveals an encouraging statistic: over 94% of ETH addresses are presently profitable<\/a>, suggesting a strong holding pattern among investors and a reduced likelihood of selling pressure. This scenario could potentially set the stage for a price uptick.<\/p>\n

Related Reading: Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH<\/a><\/div>\n

However, it’s important to note that Ethereum’s growth trajectory, while positive, has not mirrored the notable surge Bitcoin experienced following the approval of its spot Exchange-Traded Fund<\/a>, indicating a more measured pace of appreciation for ETH.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) is poised for a notable improvement with the impending Dencun upgrade to enhance the network’s scalability. However, amidst this anticipation, QCP Capital, a seasoned crypto asset trading firm, has shed light on an emerging trend that might influence Ethereum’s price trajectory. The firm’s analysis reveals a shift in “risk reversals” for Ethereum, turning negative for upcoming expiries. This shift indicates growing concerns among investors about a potential decrease in ETH’s price, as a negative risk reversal often suggests a market leaning towards protective measures against a downturn. Related Reading: These Are The Ethereum Altcoins Witnessing High Whale Interest Market Leverage And Correction Concerns Notably, this trend towards negative risk reversals has been attributed to an increased interest in put options, which serve as a hedge against potential losses for those speculating on price increases. Moreover, the broader altcoin market participants are similarly hedging their investments in Ethereum, aiming to mitigate risks associated with their altcoin holdings. QCP Capital’s insights into the market dynamics also highlight an underlying nervousness about Ethereum’s price stability, especially in light of the considerable leverage within the market. The firm cautions about the potential for a market correction, albeit with an expectation of strong buying interest in the event of any price dips. QCP noted in the report: Altcoin speculators might also be buying ETH puts as a proxy to hedge altcoin downside. This makes us wary of a possible correction given the amount of leverage in the market. However, we think that the market will buy any dip aggressively. Additionally, Ethereum’s spot-forward spreads have decreased slightly, contrasting with Bitcoin’s sustained high spreads. Commenting on the implication for investors, QCP Capital stated: A sharp drop in spot price is likely to drag the forward spreads lower as leverage longs get taken out. Ethereum Performance And Outlook Despite the cautionary signals, Ethereum continues to perform “robustly” in the crypto market, closely trailing Bitcoin regarding price movements. Currently trading above $4,000, Ethereum has witnessed a modest increase of 0.6% over the past 24 hours. Moreover, data from IntoTheBlock (ITB) reveals an encouraging statistic: over 94% of ETH addresses are presently profitable, suggesting a strong holding pattern among investors and a reduced likelihood of selling pressure. This scenario could potentially set the stage for a price uptick. Related Reading: Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH However, it’s important to note that Ethereum’s growth trajectory, while positive, has not mirrored the notable surge Bitcoin experienced following the approval of its spot Exchange-Traded Fund, indicating a more measured pace of appreciation for ETH. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":514768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,90989,8323,1946,91844,78803],"class_list":["post-597690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-dencun-upgrade","tag-eth","tag-ethereum","tag-ethereum-market","tag-ethusdt"],"acf":[],"yoast_head":"\nMarket Alert: Ethereum Faces Potential Downfall as Dencun Upgrade Looms - Here's Wh<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) is on the brink of a notable improvement with the impending Dencun upgrade, aimed at enhancing the network's scalability...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Alert: Ethereum Faces Potential Downfall as Dencun Upgrade Looms - 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Market Alert: Ethereum Faces Potential Downfall As Dencun Upgrade Looms – Here\u2019s Why","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","dencun upgrade","eth","ethereum","ethereum market","ethusdt"],"dateCreated":"2024-03-14T02:00:11Z","datePublished":"2024-03-14T02:00:11Z","dateModified":"2024-03-14T02:00:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Market Alert: Ethereum Faces Potential Downfall As Dencun Upgrade Looms – Here\\u2019s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-faces-potential-downfall-as-dencun-upgrade-looms\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?fit=750%2C536\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"dencun upgrade\",\"eth\",\"ethereum\",\"ethereum market\",\"ethusdt\"],\"dateCreated\":\"2024-03-14T02:00:11Z\",\"datePublished\":\"2024-03-14T02:00:11Z\",\"dateModified\":\"2024-03-14T02:00:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/597690"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=597690"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/597690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/514768"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=597690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=597690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=597690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}