Ethereum Investors Continue to Purchase ETH! What Price Level Are They Aiming for in September? Check Out the Ethereum Option Data!
Despite the recent decline in Ethereum’s native token, Ethereum (ETH), some crypto options traders remain bullish on the market and are actively buying call options.
Investors are showing confidence in Ethereum’s potential by investing in call options with a $4,000 strike price that expires in September. A call option allows the owner to buy the underlying asset at a specified price within a specific time frame. By purchasing these call options, investors are betting that the price of Ethereum will surpass $4,000 before the options expire.
According to Greg Magadini, the director of derivatives at Amberdata, there has been a significant amount of buying activity for the September $4,000 calls. This suggests that investors believe Ethereum could reach new all-time highs if it breaks above $4,000.
These call options are typically purchased through block transactions, which are large orders negotiated privately between institutional investors, hedge funds, and other major market participants. Investors who have bought the $4,000 call options may be anticipating a significant market movement when the ETFs launch.
The bullish sentiment surrounding Ethereum is also leading to expectations of increased volatility in the market. However, some analysts, including those at JPMorgan, remain skeptical about the excitement surrounding these developments.
Ethereum, which was launched in 2015, reached an all-time high of over $4,800 in November 2021.
(Note: This article does not provide investment advice.)
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