Betting Big On Ethereum: Options Traders Target $4,000 Mark Amid Market Optimism
10 Februar 2024 - 2:00AM
NEWSBTC
Ethereum (ETH) is showing a noteworthy pattern in the options
market. According to data from Deribit, a leading platform for
crypto futures and options trading, there’s a significant
concentration of call options for ETH around the $4,000 strike
price for both the June and September expiries. Related Reading:
Ethereum to $20,000: Analyst Sees Spot Ethereum ETFs Fueling Bull
Run Options Traders Anticipate $4,000 Ethereum This accumulation of
ETH call options centered on the $4,000 mark indicates a
concentrated expectation among traders that the price of Ethereum
could rise to, or above, $4,000 by these dates. For context,
options are financial derivatives that give the buyer the right,
but not the obligation, to buy (in the case of call options) or
sell (put options) the underlying asset at a predetermined price on
or before a specified date. Notably, according to a chart from the
crypto futures and options trading platform, the $4,000 ETH strike
price emerged as the dominant position in the ETH options trading
landscape, surpassing other strike prices for the June and
September expiry dates. It is worth noting that such a pattern
indicates market sentiment and can influence trading strategies. In
this instance, the pattern implies that most options traders are
likely bullish on Ethereum, anticipating a notable increase in its
value. Furthermore, this trend might lead fundamental traders to
reconsider their positions on Ethereum, potentially shifting their
outlook to expect an upward trajectory in the asset’s performance.
Factors Influencing $4,000 ETH Options Strike Price This clustering
of Ethereum call options at the $4,000 strike price appears to be
influenced by several factors, including the potential approval of
a spot Ethereum exchange-traded fund (ETF) by the US. Securities
and Exchange Commission (SEC). With the final decision deadline for
these spot ETF applications set for May 23, traders seem to be
positioning their Ethereum options contracts in anticipation of a
favorable outcome, as observed by Bitfinex’s Head of Derivatives,
Jag Kooner. However, Deribit’s Chief Commercial Officer, Luuk
Strijers, cautions against drawing definitive “conclusions” about
the link between the derivatives market and the Ethereum spot ETF
approval expectations. Strijers notes that while the “June skew” is
higher, indicating more “expensive calls,” it’s challenging to
pinpoint this precisely to the spot ETF news or expected
correlation with the upcoming Bitcoin halving. Meanwhile, Altcoin
Daily crypto analysts recently outlined three key factors that
could propel Ethereum’s price to $4,000. Among these factors, the
anticipation and potential approval of Ethereum Spot
Exchange-Traded Funds (ETFs) were highlighted as a major catalyst.
While Ethereum futures have already gained global acceptance,
analysts emphasize that the green light for these spot ETFs could
significantly trigger Ethereum’s long-term price appreciation.
Related Reading: Ethereum Rally: Crypto Analysts Outline 3 Key
Drivers For Price Regardless of this contrasting ETH view, ETH
currently trades at $2,495, showing a 7.7% increase in the past
week and a 1.9% rise in the past 24 hours. Featured image from
Unsplash, Chart from TradingView
Mina (COIN:MINAUSD)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Mina (COIN:MINAUSD)
Historical Stock Chart
Von Jul 2023 bis Jul 2024