The
latest
Crypto
Derivatives
Analytics
Report
by
Bybit
in
partnership
with
BlockScholes
shows
there
has
been
a
significant
shift
in
the
attitude
of
the
market,
with
investors
now
favouring
Ethereum
(ETH).
The
analysis
shows
that,
in
comparison
to
Bitcoin
(BTC),
there
is
an
increasing
amount
of
optimism
around
ETH
due
to
important
market
indicators
and
impending
regulatory
changes.
Source: Bybit Analytics
Strong
Bullish
Indications
Despite
Market
Volatility
The
soon
to
launch
Ether
Spot
ETFs
in
the
United
States
is
seen
to
provide
a
major
boost
to
the
world’s
top
altcoin
in
terms
of
adoption
and
perhaps
price
projection.
Ethereum
futures
have
been
edging
BTC
in
recovering
open
interest,
indicating
a
strong
market
narrative
supporting
Ethereum’s
long-term
prospects.
Source: Bybit Analytics
The
increase
in
ETH
perpetual
contract
trading
volumes
is
indicative
of
investors
taking
calculated
risks
to
get
ahead
of
expected
market
turning
points,
such
as
the
introduction
of
an
ETF.
Increased
Price
Momentum
And
Options
Activity
The
market
volatility
for
ETH
options
is
still
high,
especially
when
it
comes
to
waiting
for
approvals
for
ETFs.
This
is
in
stark
contrast
to
BTC
options,
which
show
a
more
cautious
approach.
The
study
reveals
a
stable
premium
in
the
volatility
of
ETH
options
throughout
a
range
of
term
structure
tenor
points,
indicating
robust
expectations
from
the
market
for
upcoming
price
moves.
In
the
previous
24
hours,
Ethereum’s
price
has
risen
by
4%
to
$3,472.
There
are
a
handful
of
spot
ETH
ETFs
expected
to
go
live
on
July
23
after
receiving
preliminary
authorisation
from
the
US
Securities
and
Exchange
Commission.
Experts
predict
that
these
legislative
achievements
would
lead
to
significant
financial
inflows
into
Ethereum,
which
may
drive
its
price
up
to
$4,000
and
higher.
ETH market cap currently at $408 billion. Chart: TradingView.com
An
Overview
Of
Ethereum
Prices
Over
the
past
several
days,
Ethereum
has
experienced
a
significant
price
change.
During
the
period
in
which
the
market
as
a
whole
was
experiencing
a
decline,
the
price
of
ETH
fell
to
$2,811,
but
ever
since
Bitcoin
again
began
to
increase,
ETH
has
been
following
suit.
The
development
of
Ethereum
reached
its
conclusion
at
$3,484
after
it
produced
a
“dual
bottom”
on
the
4-hour
chart
earlier.
ETH up in the last 24 hours. Source: Coingecko
With
$3,570
and
$3,800
as
likely
resistance
levels,
forecasts
for
Ethereum’s
price
point
to
further
higher
movement
to
come.
Should
the
bears
prevail,
Ethereum
can
find
favour
at
$3,350,
in
accordance
with
the
21-day
and
50-day
Simple
Moving
Averages
(SMAs).
ETF
Introduction
Sparks
Investor
Interest
The
SEC
has
given
three
issuers
preliminary
approval,
which
has
energised
Ethereum’s
market
dynamics
before
Spot
ETH
ETFs
are
scheduled
to
be
introduced.
Eric
Balchunas,
a
Bloomberg
ETF
specialist,
forecasts
large
trade
volumes
and
institutional
interest
when
trading
opens
on
Tuesday.
Ethereum’s
price
rebound
can
be
attributed,
according
to
Eugene
Cheung,
Head
of
Institutions
at
Bybit,
investor
optimism
over
the
ETF
certification.
Higher
liquidity
and
institutional
involvement
expectations
help
to
position
the
market
favourably.
Featured
image
from
Techopedia,
chart
from
TradingView
Go to Source
Author: Christian Encila
