Traders anticipate Ethereum at $5,000 by the end of June
The open interest of ether (ETH) options, the Ethereum cryptocurrency, shows a concentration of purchase options for the end of June, according to data from Deribit, the main options exchange for the digital asset.
Most of the ether options with open interest are priced at $5,000. This reflects widespread optimism in the ether market, as traders expect the price of ETH to rise in the short term.
Call options give the buyer the right, but not the obligation, to purchase ether at a specified price before a specified date. In this case, The most popular options have a strike price of $4,000 and $5,000as can be seen in the following Deribit graph.
The image shows that the total value of call option contracts with a price of $5,000 is $218 million.
Also there is significant open interest at the $4,000 and $3,000 prices. This suggests some uncertainty about the direction of ether price, but bullish sentiment still predominates.
Rachel Lin, co-founder of SynFutures, confirmed the bullish trend in the ETH price, highlighting that ether’s open interest is 65% for call options versus 35% for put options.
The options market predicts that ether will rise in June, even though the current price is in a period of stabilization. The price of ETH has remained between $3,700 and $3,900 over the past seven days, as the TradingView chart below shows.
However, the price of ether is likely to see a significant increase in the short term, the analyst explained.
Ethereum waits for US regulator
One of the main bullish catalysts for ether are ETFs based on the cryptocurrency. However, they have not yet fully impacted the price of the asset as expected. Although the US regulator has approved them, They are waiting to begin being traded on the stock marketsas reported by CriptoNoticias.
To do so, applicant companies must submit Form S-1, which contains detailed information about the company, its finances, management, business plans and the stock offering, including the number of shares offered, the offering price and the use of the funds raised.
Several companies are working on it, such as BlackRock, which in its document announced its initial capital investment, highlighting that on May 21 it agreed to sell 10 million dollars in 400,000 shares, at a price of 25 .00 dollars for each share.
