Ethereum bears have the upper hand according to derivatives data, but for how long?

ETH bears continue to suppress Ethereum price, but buying activity from institutional traders and exchanges aiming to offer more transparency could improve investor sentiment. Ether (ETH) price fell 11.9% from Nov. 20 to Nov. 22, hitting a low of $1,074, the lowest level seen since July. Currently, investors have reason to worry after crypto lending firm Genesis reportedly struggled to raise funds, sparking insolvency rumors on November 21.

However, a Genesis spokesperson told Cointelegraph that there are no imminent bankruptcy plans as the company continues to discuss with its creditors.

Unrest over the centralization of decentralized finance (DeFi) emerged after Uniswap Labs changed the privacy policy on November 17, revealing that it collects publicly available blockchain data, browser information users, operating system data and interactions with its service providers. .

In addition to the fracas, the hacker behind the $447 million FTX exchange heist was spotted moving his Ether funds. On November 20, the attacker transferred 50,000 ETH to a separate wallet and converted it to Bitcoin using two renBTC bridges.

Traders are concerned that the hacker will suppress the price of Ether to profit from it using leveraged short bets. The rumor was raised by @kundunsan on November 15, although the Twitter post didn't go live.

Unpopular opinion: SBF is the hac...