TechFlow news, on November 26, according to The Block report, Wintermute analysts said that open interest in the Ethereum derivatives market hit a record high, with funds shifting from Bitcoin to Ethereum. Within the past 24 hours, Ethereum's price rose over 6% to $3,513, while Bitcoin dipped slightly by 0.5% to $95,600.
Data shows strong demand for Ethereum call options, with strike prices for options expiring on December 27 ranging between $3,600 and $5,000. Bitcoin's market dominance has dropped from 62% a week ago to 59%. Analysts at QCP Capital noted that the market expects Bitcoin to trade sideways in December, with short-term focus shifting toward Ethereum.
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