Investors are actively purchasing Ethereum call options with a $4,000 strike price that will expire in September on the Deribit exchange, indicating their bullish sentiment towards the cryptocurrency. These call options allow investors to buy Ethereum at a specific price within a specific time period. By buying these options, investors are betting that the price of Ethereum will surpass $4,000 before the options expire. Greg Magadini, the director of derivatives at Amberdata, observed a significant amount of buying activity for the September $4,000 calls, suggesting that investors believe Ethereum could reach new all-time highs if it surpasses $4,000. Block transactions, which are usually executed by institutional investors, hedge funds, and major market participants, indicate that investors who purchased these call options are anticipating a substantial market movement when the ETFs launch. This optimistic sentiment is also accompanied by expectations of increased volatility in the Ethereum market. However, some market analysts, including those at JPMorgan, remain cautious about the hype surrounding these developments. Ethereum, which was launched in 2015, reached an all-time high of over $4,800 in November 2021. Please note that this article does not constitute investment advice.
