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via Cointelegraph · By Cointelegraph Staff
Tom Lee Says Oil Prices Are Ethereum’s Biggest Headwind
ETH
ETH/USDT
$1,885.81
+0.01%
$1,885.81
+0.01%
(24s)24h Volume
$1,881,552,395.56
24h H/L
$1,892.31 / $1,877.01
Change: $15.30 (0.82%)
Long/Short
66.8%
Long: 66.8%Short: 33.1%
Funding Rate
+0.0030%
Longs pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(07:02 AM UTC)
1 min read
Rising oil prices since the US-Israeli war have been a consistent weight on the price of Ether for the last three months, according to Fundstrat co-founder Tom Lee.
“If one is wondering why Ethereum has been under selling pressure … to me, rising oil prices is the biggest headwind,” Lee said on X on Monday.
Lee said the inverse correlation between Ether prices and oil is at a record high.…
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