Ethereum options are now at a new all-time high amid the digital currency’s bullish run which began at the end of November. According to Wu Blockchain:
“ETH option holdings are at a historical peak. The largest option delivery date this month is December 31. 689,653 options for delivery, with 469,486 calls and 220,167 puts, and the Put/Call ratio is 0.47. The number of call options with an exercise price of $5000 is the largest.”
Usually, Ethereum open interest usually jumps toward the end of the year. This is mostly a result of the increase in the crypto market’s volatility, which induces traders to hedge their positions.
Options usually reflect the prevailing market conditions. Therefore, it stands to reason that since there is price movement of Ethereum (ETH) in both long and short term bullish trends, call or buy options are prevailing on the market. Subsequently, several investors and traders are betting that the digital currency will jump to $5,000.
At the moment, Ethereum’s current all-time high (ATH) is $4,880. Furthermore, more market observers and analysts anticipate that the asset will attain the long-awaited milestone ($5,000) by this year’s ending. This is also expected to happen, as other coins are predicted to attain new highs.
Ethereum is currently changing hands at about $4,493. The token previously crested at an all-time high of $4,858 in early November.
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