Crypto: Ether’s Path To $2.5k May Be Trickier Than Expected: ’s Why 2026
Crypto markets spent the week chasing green, but Ether’s rally toward $2,500 might hit significant setbacks. Cointelegraph explains why.
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 risk events of the day, a federal judge ruled that the US government must start paying more than $130 billion in tariff refunds to US-based businesses. The decision comes roughly a week after the Supreme Court agreed that the president’s IEEPA tarrifs were used illegally.
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.
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%.
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, including US private credit losses and rising corporate layoffs, Ether continues to face its own idiosyncratic headwinds.
Source: CoinTelegraph
