Ether (ETH) was changing hands just above $3,000 during the Asia trading day as the CoinDesk Indices Ethereum Trend Indicator flipped negative, signaling a bearish shift.
"Unexpected higher U.S. treasury yields, a stronger dollar, and geopolitical risks in the Middle East weighed down on crypto markets," said Jun-young Heo, a Derivatives Trader at Presto.
"Short-term put options are more expensive than call options for both BTC and ETH," shared Heo, highlighting the market sentiment.
"It seems investors have been unable to break all-time highs but remain unwilling to completely turn bearish either," noted Justin d'Anethan, head of business development at Keyrock.
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