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HomeAnalysisEthereum Options Market Shows Bullish Sentiment, Focusing on Higher Strike Prices

Ethereum Options Market Shows Bullish Sentiment, Focusing on Higher Strike Prices


The Ethereum options market is exhibiting a strong bullish sentiment, with traders focusing on higher strike prices, particularly exceeding $3,600. According to data from Deribit, the aggregate open interest in Ethereum call options is concentrated on strike prices above this level, indicating a significant market segment is positioning for the asset to ascend to higher levels by the end of June.

Ethereum Open Interest By Expiration. | Source: Deribit

The most favored strike price among these optimistic bets is an ambitious $6,500, with a notional value of $193 million. This concentration of calls above the $3,600 mark suggests that a substantial market segment is betting on Ethereum’s potential uplift.

Ethereum Open Interest By Strike Price. | Source: Deribit

The data from Deribit reveals that roughly 622,636 Ethereum call contracts are set to expire by June’s end, encapsulating a notional value above $1.8 billion. This substantial positioning underscores the market’s confidence in Ethereum’s potential uplift.

Despite the optimism embedded in these options, Ethereum is currently navigating a slight downturn. It has dropped 5.4% over the past week and 2.2% in the last 24 hours, positioning it below $2,900. This decline places even more focus on upcoming market catalysts that could significantly sway ETH’s price.

ETH price is moving sideways on the 4-hour chart. Source: ETH/USDT on

Regulatory decisions, such as the US Securities and Exchange Commission’s (SEC) decision on several applications for Ethereum-based Exchange-Traded Funds (ETFs), are due by May 25th. Approval could usher in a wave of institutional investments into Ethereum, potentially catapulting its price. Conversely, rejection could dampen the bullish sentiment and lead to further pullbacks.

From a technical analysis standpoint, signs are pointing to a possible rebound. The “Bullish Cypher Pattern” identified by the analyst Titan Of Crypto suggests that Ethereum could be at a turning point. Currently, Ethereum is at the 38.2% Fibonacci retracement level, a key support zone in many bull markets. This level has historically acted as a launchpad for upward price movements, hinting that Ethereum could be gearing up for a significant rise.

As the market awaits the outcome of the regulatory decisions and technical indicators, traders are keeping a close eye on the Ethereum options market. With the concentration of calls above $3,600, the market is signaling a strong bullish sentiment, potentially paving the way for Ethereum’s price to rise in the near term.



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