Institutional and other major players rely on a significant increase in the second cryptocurrency capitalization, and the analyst of Coindesk Omkar Godbul shared observations.
According to him, last week, the block traders opened bull calls on Ethereum-they bought a call from a strip of $ 3500 and at the same time sold the same number of collles at $ 6,000. Both positions expire on December 26.
Market participants implemented a strategy through the ParadigM off -off platform, after which they issued transactions on the Deribit cryptocurrency. They concluded 30,000 contracts with a $ 3500/$ 6,000 call-off in the framework of ten separate transactions, spending a little more than $ 7 million on initial costs and marginal support.
The strategy will bring the greatest profit if by December 26, the Ethereum rate will grow to $ 6,000 and higher. On Paradigm and Deribit platforms, one option contract corresponds to 1 ETH.
A large volume of $ 3500/$ 6,000 calls indicates confident broadcasts of ether growth of up to $ 6,000 by the end of the year.
If the price of ETH remains below $ 3500, when exposing, a potential loss will be limited to the initial costs of $ 7 million. On the other hand, with an increase in the price of an asset above $ 6000, traders miss possible profit due to a short position on this aspect-level.
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Source: Cryptocurrency
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