Are ETH Options Traders Betting on a Bullish June?
Data from Deribit shows a significant concentration of ETH call options (as of this writing) around a strike price of $6,500 for June.
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Data from Deribit shows a significant concentration of ETH call options (as of this writing) around a strike price of $6,500 for June.
ETH Options Chart Source: Deribit.com
This implies that some traders are betting on ETH hitting or surpassing $6,500 by the options' expiry date (June 28, 2024).
BTC Options Chart Source: Deribit.com
Interestingly, Bitcoin traders seem to perceive a slightly lower growth potential, as the bulk of BTC call options (expiring on June 28, 2024) are clustered around a price of $75,000.
While market participants may anticipate major positive news for Ethereum by then, it’s worth remembering that traders' predictions can often miss the mark.
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