The cryptocurrency market has been in an upward trend lately, and this rise is led by Ethereum (ETH). ETH price has increased by more than 10% in the last week, reaching above $ 3,700, making it the biggest rise in the last month. The reasons behind this rise are potential approval expectations for spot Ethereum ETFs and the upward trend in the options market.
Ethereum rise attracts attention
Ethereum (ETH) has made its biggest rise in the last month, rising more than 10% in the last week to over $ 3,700. This rise is driven by potential approval expectations for spot Ethereum ETFs in the US and a bullish trend in the options market. Investors are predicting an even bigger rise in ETH price if the U.S. Securities and Exchange Commission (SEC) approves spot Ethereum ETFs. BlackRock Inc. ETF applications submitted by major investment firms such as Fidelity Investments and Fidelity Investments increase these expectations.
In a significant development in the Ethereum ecosystem, Defiance has filed for a 2x leveraged bitcoin ETH futures ETF. If approved, it will be traded with the ETHL ticker. This development was reported by Bloomberg analyst James Seyffart.
Meanwhile, the latest updates from on-chain data provider Santiment attracted attention. Ethereum’s strong performance at the start of the week moved ERC20 assets significantly ahead of the broader markets, according to Santiment. Last week the sector recorded impressive growth of +8.1%. Notable performers include TON (+21%), LDO (+12%) and ENA (+12%), which continue to rise.
Call options support the price
With contracts expiring at the end of April, the Ethereum options market is also trending upward. According to data from Deribit, approximately $3.3 billion in ETH options are set to expire, with roughly two-thirds of that amount placed in calls. This shows that investors expect the ETH price to rise.
Meanwhile, call options on Ethereum are clustering between $3,700 – $4,000, indicating an upward trend in the market and underlying bullish sentiment. It also shows that current open interest skewness is that calls are trading at a premium to puts, and implied volatility increased over the weekend. The fact that the ETH put-call ratio for the end of April maturity is 0.45 shows investors’ confidence in ETH. This rate is slightly more bullish compared to Bitcoin options.
SEC seeks to deem ETH a “security”
However, cryptokoin.com As we reported, there are also regulatory concerns, such as the SEC’s efforts to categorize ETH as a security and the low likelihood of spot ETFs being approved. Ethereum price is making its biggest rise in a month thanks to ETF expectations and a bullish trend in the options market. Still, investors’ concerns about the SEC’s regulatory stance should not be ignored. As a result, it is useful to pay attention to the following items:
- ETH price made its biggest rise in the last month, climbing above $3,700.
- Potential approval expectations for spot Ethereum ETFs are driving the price.
- The options market shows an uptrend.
- Call options support price increases.
- The put-call ratio shows confidence in ETH.
- Regulatory concerns remain.
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