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Options Traders Betting on Ether’s Upside Potential
Discover how options traders are leveraging bullish bets on Ethereum’s potential growth, indicating optimism and confidence in its upward trajectory.
Ethereum’s native token ether (ETH) has experienced a 5% decline in one week, currently trading at $3,350. Despite this, some options traders are taking a bullish stance amidst the falling market trend.
Increased Interest in September $4,000 Call Options
According to Amberdata data, there has been a notable increase in the purchase of ether September expiry call options with a strike price of $4,000 on Deribit. Call options provide the holder with the right to buy the underlying asset at a predetermined price within a specific timeframe, indicating traders’ optimism for a price increase above $4,000 before the option expires.
Anticipation Surrounding Ether ETFs Trading in the U.S.
Speculation is rife regarding the potential trading of ether exchange-traded funds (ETFs) in the U.S. next month. The recent regulatory developments, including the SEC’s positive stance on a spot ether ETF approval and the resolution of the Ethereum 2.0 investigation, have lifted market uncertainties. Bloomberg’s ETF analyst predicts the commencement of ether ETF trading in the U.S. on July 2, fueling optimism among traders.
Despite the heightened volatility and positive sentiment in the ether market, not all observers, such as JPMorgan, share the same enthusiasm about the potential impact of ETFs on ether’s price movements.