Data in the options market points to $4,000 for Ethereum (ETH).
Ethereum data on Deribit, the world’s largest cryptocurrency options market, excited investors. According to the data in question, options are mainly $4,000 While it was clustered at the level, the maturity date was recorded as June 2024.
This data revealed the clear expectation of option investors that the Ethereum price will rise to $ 4 thousand or more before June.
Deribit Chief Commercial Officer Luuk Strijers In his statement to The Block, he pointed out that the spot Ethereum ETF approval, which is likely to occur in May, has moved investors’ expectations in this direction:
As you can see from Deribit data, demand at $4,000 is the largest for both June and September maturities. The May expiry is not yet traded, so we can only look at June and April for ether. Traders appear to be adjusting Ethereum options contracts with the May 23 date in mind.
According to CoinGecko data, in the last 24 hours 4.1% increase Ethereum exhibiting, at the time of writing from $2,522 is being traded.