Option data has begun to signal weakness in Ethereum (ETH), which has been rising for a long time.
Ethereum price hits two-year high After exceeding $4,000 Then it started to show signs of decline. Data on Deribit, the largest cryptocurrency options exchange, revealed that investors are taking precautions against price declines in the short term.
According to Deribit’s crypto options data, within 30 and 60 days Ethereum put options expiring increased as the price rose above $4,000. Option data Closes below $4,000 He pointed out that the decline in prices could deepen.
on the other hand US Securities and Exchange Commission (SEC)The fact that analysts reduced the possibility of approving spot Ethereum ETFs in May was among the factors that strengthened the possibility of a decline. Bloomberg senior ETF analysts on Monday made their predictions for spot ether ETF approval in May. from 70% to 30% he had dropped it.