Ether has dropped 2% this week, establishing a foothold under the crucial support of the 200-week simple moving average at $1,660.
A market maker or a dealer is a market participant posting both a bid and ask in a market to provide liquidity at all times. These entities make money from the bid-ask spread and agnostic to price action. They run a direction-neutral book, which mandates constant buying and selling of the underlying asset to limit the exposure to price gyrations.
"The magnitude of these positions is consequential enough to influence market dynamics. Consequently, it could constrain Ethereum’s mobility leading up to the 29th September expiry, especially on the bullish side," Lakha added.
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