Investors
are
bullish
on
Ethereum
as
the
industry
awaits
the
launch
of
Spot
Ethereum
ETFs.
This
sentiment
is
relayed
through
the
recent
expiration
of
Ethereum
options
contracts
and
the
put-call
ratio.
According
to
data,
over
200,000
ETH
options
recently
expired,
and
the
crypto
community
eagerly
awaits
the
direction
of
the
Ethereum
price.20,000
BTC
options
expired
with
a
Put
Call
Ratio
of
0.49,
a
maximum
pain
point
of
$68,500
and
a
notional
value
of
$1.35
billion.
200,000
ETH
options
expired
with
a
Put
Call
Ratio
of
0.36,
a
max
pain
of
$3,600
and
a
notional
value
of
$710
million.…
pic.twitter.com/42ruZLLtqc
—
Greeks.live
(@GreeksLive)
June
14,
2024
How
High
Can
Ethereum
Price
Go?
Demand
for
Ethereum
is
spiking.
This
signals
that
traders
expect
the
price
to
continue
rising
in
the
near
term.
Accumulation
was
at
its
highest
in
the
middle
of
the
week,
with
holders
gobbling
up
more
than
298,000
ETH
in
24
hours.
Also,
on-chain
data
from
Santiment
shows
that
the
top
10
exchange
wallets
have
seen
their
ETH
holdings
drop
by
8.6%
in
the
past
few
days
as
traders
accumulate
into
private
wallets.
Notably,
the
uptick
in
withdrawals
also
saw
336,000
ETH
worth
$1.2
billion
withdrawn
from
Coinbase
on
Wednesday
and
Thursday.
Related
Reading
On
the
other
hand,
Ethereum,
which
started
last
week
trading
around
$3,700,
struggled
to
break
above
a
resistance
of
$3,600
during
the
weekend.
The
increase
in
call
options,
along
with
the
increasing
demand,
suggests
Ethereum
will
easily
break
above
$3,600
in
the
new
week.
Breaking
through
$3,600
and
$3,700
would
be
extremely
bullish
and
could
trigger
a
rally
to
new
all-time
highs.
Featured
image
from
Flow,
chart
from
TradingView
Go to Source
Author: Scott Matherson
