Option Data on Ethereum (ETH) Points to This Level for the End of June!

Spot Ethereum ETF The increase in the possibility of approval mobilized the entire cryptocurrency market, especially Ethereum.

ETH While its price is heading towards $4,000, Bitcoin (BTC) and ETH-based altcoins also experienced significant increases.

While optimism towards ETH and ETH-based altcoins continues, option investors have also raised their expectations.

Speaking to Coindesk decentralized options market LyraNick Forster, founder of and a former Wall Street options trader, He said option investors are focusing on $5,000 call options for the end of June.

Announcing Lyra data, Nick Forster stated that, according to option data, there is a 20% probability that the ETH price will rise to $ 5,000 by the end of next month.

“This week, Lyra-based traders traded Ethereum call options expiring in June and July heading for strikes above $5,000, resulting in a bullish outlook.

Lyra options data indicates a 20% chance for ETH to reach $5,000 by June 28.

Traders increased their positions after the Ethereum ETF approval speculation and therefore there is a 20% chance that ETH will rise above $5,500 by July 26.

“I also think the ETH ETF approval will have a much larger impact on ETH compared to Bitcoin.”

If the options traders’ predictions are correct, ETH needs to rise by about a third (about 35%) from the current level of $ 3,740 to reach the new record of $ 5,000.

Ethereum continues to trade at $3,730 at the time of writing.

*This is not investment advice.