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(ETH) Will the derivatives keep the price above $1K?
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We have not seen such an amount of eth in derivative exchanges for many months, currently, we have already passed 13M coins.
The last time the reserves had these amounts, the price formed a double bottom, not letting eth fall further. In the second metric, we can see how there is an accumulation of purchase volume very similar to what we saw in that double bottom in June-July 2021. Therefore, we expect these trades to be enough to consolidate the price above $1,000.
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