Ethereum: 200,000 ETH Options Expiry Spurs Demand - How Far Can Price Go?

Investors are bullish on Ethereum as the industry awaits the launch of Spot Ethereum ETFs. This sentiment is relayed through the recent expiration of Ethereum options contracts and the put- call ratio. According to data, over 200,000 ETH options recently expired, and the crypto community eagerly awaits the direction of the Ethereum price.

Notably, the majority of the expiring ETH

options are call options, meaning buyers are betting the price will rise. At the same time, the put-call ratio is at 0.36. This low value means market participants are currently buying more call options than

put options.

Options Show Surging Ethereum Demand.

Options are contracts that give buyers the right, but not the obligation, to buy or sell an asset at a specific price on or before a certain date. If the Ethereum price is above the strike price of these options at expiry, buyers will likely exercise their right to buy ETH at a discount, which would drive the price up further.

According to data, participants in the

options market are betting on Ethereum's price increase despite the recent stagnation around $3,500.

Particularly, the data shows that 200,000

ETH options worth $710 million recently

expired due to Ethereum's failure to

break above the $3,600 price mark.

This means most options traders were betting Ether would be trading higher by now. Despite this, the sheer number of call options suggests the amount of demand pressure Ethereum is currently facing, which is set to continue into the next month. Hence, this is a good time for investors to lay out plans for next month's call options.

How High Can Ethereum Price Go?

Demand for Ethereum is spiking. This signals that traders expect the price to continue rising in the near term. Accumulation was at its highest in the middle of the week, with holders gobbling up more than 298,000 ETH in 24 hours.