Keep dreaming! Options data suggest $560 Ethereum price won’t happen
Options data shows pro traders are not confident that Ethereum price will follow Bitcoin’s rally to new 2020 highs. This week Bitcoin (BTC) and Ether (ETH) prices reached new highs as a slew of bullish news continued to pump investors’ hope that the next crypto-bull market will mirror the one seen in 2017. Many novice traders simply follow spot prices on the major crypto exchanges to gauge the direction price might take. However, reviewing options markets data can provide additional relevant insights on market sentiment. Looking at the most recent activity in Bitcoin options, it is clear....
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Growth in DeFi, increasing on-chain activity and the strength of the bullish Ethereum options market helped send Ether price to a new all-time high at $1,500. The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, achieved a new all-time high at $1,500 today. Data suggest that the ETH options market showed dominant call activity and this may be a primary factor in the rally to a new high.Across major exchanges, the price of ETH surpassed $1,500, after the options market showed dominant call activity.In the options market, there are two types of contracts:....
Numerous on-chain indicators suggest Ethereum price is on the verge of another 2017-style bull run. Ether (ETH) price is currently ranging between $440 and $470, which is similar to the price action seen in December 2017. Back then, the scenario ended up being incredibly bullish, and the altcoin quickly rocketed toward $1,400. Fast forward to 2020, and some investors believe a similar outcome may occur as a few key on-chain and technical indicators are mirroring the levels seen in the previous bull run.On Dec. 10 Ether price was $450, and it took only 34 days for Ether to reach its....
Options data, macroeconomic catalysts and technical signals suggest a decline in Ethereum price is on the table despite the Merge. Ethereum's native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June. Much of the token's upside move is attributed to the Merge, a technical upgrade that would make Ethereum a proof-of-stake (PoS) protocol, slated for Sep. 15.But despite logging impressive gains between June and September, Ether still trades almost 70% below its record high of around $4,950 from November 2021.....
Ethereum Foundation members expect “the merge” to happen before year-end and savvy options traders will profit using this options strategy. Ethereum's long-awaited transition away from proof-of-work (PoW) mining has recently suffered another delay and is expected to occur in the second half of 2022.Ethereum developer Tim Beiko stated on April 13 that "it won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum."An automated increase in mining difficulty designed to make PoW mining less attractive is set to become....
$1.27 billion in ETH options expire on August 26 and data signals that the price is likely to stay pinned under $2,000 until the Merge. Since failing to close above the $2,000 mark, Ether (ETH) price has faced a steep 16.8% correction, but this was not enough to give bears an edge in the August $1.27 billion monthly options expiry.Ether USD price index, 12-hour chart. Source: TradingViewCurrently there are mixed feelings about the network’s upcoming change to a proof of stake (PoS) consensus network and analysts like @DWhitmanBTC, believe the potential benefits of PoS do not supercede the....