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The options market is betting on Ethereum growth

The distribution of Ethereum options expiring in June indicates increased bets on the asset moving above $3,600. This is evidenced by the data Deribit.

The volume of open call options at the specified exercise price increased to $161.4 million. It was higher only at the strike price of $6,500 ($193.9 million).

Generally OI for June calls is $1.89 billion – 2.37 times more than for puts ($795.6 million).

According to The Block, such a high concentration of call options not only indicates the optimism of market participants. It may also indicate potential support for the underlying asset.

The put to call ratio is 0.35. Values ​​below one indicate the predominance of bullish sentiment.

Earlier, Glassnode linked Ethereum’s lag behind Bitcoin after halving with capital rotation.

Source: Cryptocurrency

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