Ethereum’s implied volatility is nearing historic lows, suggesting the possibility of a breakout. Derive’s founder, Nick Forster, mentions that such low levels are often unsustainable.

Currently, Ethereum’s forward rate is below the U.S. Treasury bill rate, reflecting weak near-term confidence. However, low forward rates have historically led to price spikes.

The circulating supply of Ethereum on exchanges has reached a nine-year low, which may amplify price reactions if demand returns.