While $8.2 billion in end-of-month options on Bitcoin and Ethereum expire today, analysts said option investors are expecting $5,000 in ETH for the end of June.
At this point, analysts stated that purchases for Ethereum options gathered at $ 5,000 for the end of June, and said that this indicates a bullish outlook.
Speaking to The Block, SynFutures co-founder Rachel Lin said:
“When we examined Ethereum options data, we noticed that the highest open interest for ETH is currently on the $5,000 call option for the end of June.”
Adding that Ethereum open interest is “65% for calls and 35% for puts,” Rachel Lin said, “these rates coincide with data obtained from Deribit, which shows a put call rate of 0.56 for the end of June expiry. The call option rate below one.” “It shows that purchases are more than sales, which indicates an upward trend in the market,” he said.
Finally, the analyst said, “If the current trend in Ethereum continues, we can say that another bullish rally will come in the near future.” said.
Ethereum, which reached the $ 4,000 mark last week with the ETF news, continues to be traded at $ 3,786 at the time of writing.
*This is not investment advice.