What flash crash? ETH options still favor $500 Ethereum price

[Lenipiw]

Ethereum price corrected 13% but derivatives data still support a $500 Ether price. Today’s Ether (ETH) 10% dump caused its annualized futures basis to adjust after flirting with extremely optimistic territory. The basis indicator compares futures contracts price to the current level at regular spot exchanges.

Healthy markets usually display a 5% to 15% annualized basis, in a situation known as contango. On the other hand, a negative basis (futures premium) usually occurs during heavily bearish markets.
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