As we approach the month of June, the focus in the cryptocurrency markets is shifting towards Ethereum. However, this time, investors are not only paying attention to price trends, but also to Ethereum options. According to data from Deribit, there is a significant interest in June-dated Ethereum call options, particularly those above $3,600. This indicates an expectation of a rise in Ethereum’s price.
There is an increasing interest in call options for Ethereum, with analyses showing that the most popular strike price for end-of-June call options is around $6,500. This suggests that market players anticipate a significant increase in Ethereum’s value. However, this forecast is not solely based on speculation. Access COINTURK FINANCE for the latest financial and business news.
Deribit’s open interest data reveals that there are over 617,000 call contracts expiring at the end of June, with a nominal value exceeding $1.8 billion. These contracts clearly demonstrate investors’ trust in Ethereum’s potential for growth and their desire to benefit from it.
Ethereum options, especially those with a June expiration, have recently become a major focus of interest in the cryptocurrency markets. According to CoinShares Researcher Luke Nolan, the strike prices for end-of-June call options are concentrated above $3,600, with $6,500 being the most preferred price.
Analysts emphasize the significant nominal value associated with the $6,500 price, which is approximately $192 million. This reflects the confidence of some investors that Ethereum will surpass or at least reach this level. Furthermore, an examination of the distribution of June-dated Ether options shows that investors are targeting options above $3,600.
Another important indicator is the put-call ratio. The data shows an increase in the number of outstanding call options before the end of June. A put-call ratio below one indicates that the volume of call options exceeds that of put options, suggesting a bullish market trend. The current ether put-call ratio on Deribit stands at 0.41.
However, despite all the market activity, the price of ETH has dropped by over 2% in the last 24 hours, trading at $2,912 in the morning. Similarly, the GM 30 Index, which represents the top 30 cryptocurrencies, has fallen by 1.61% to 128.16 during the same period.
All these data indicate that volatility in the cryptocurrency markets continues, and investors are developing complex strategies regarding price movements. However, the number of people expecting ETH to move towards the $6,500 level is quite noticeable. Therefore, the performance of ETH in the upcoming period will be closely monitored based on activities surrounding this strike price.
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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
