Written by

Vetle Lunde

Senior Analyst

25 Apr 2023

Worsening momentum

Souring prices and a short-lived ETH frenzy on CME.

In short

BTC has retraced to its late March/Early April consolidation range after facing a 7% downside in the past week. The souring prices have caused derivatives traders to act more cautiously as we await a period of multiple important macro releases and banking holidays.


7% downside in BTC, 12% downside in ETH

Skews flips positive

CME Ether OI erases all growth post-Shanghai