Ether Surges as Traders Invest $5 Million in $5K Call Options
Ethereum's native token, ETH, is experiencing a significant price increase, leading to heightened activity in the Deribit options market.
- Over $5 million spent on $5,000 strike call options expiring on Sept. 26.
- Current price of ETH is $4,670, marking a 26% monthly gain.
- Traders are also purchasing options at $5,500 and $6,000 strikes.
- December expiry calls at the $7,500 strike have been acquired.
- Analysts suggest potential targets of $5,000 and $7,200 for further gains.
- Persistent selling from retail traders noted during the price surge.
- ETH is currently 4.4% away from its all-time high of $4,861 from November 2021.
- BTC has surpassed its previous peak and is trading above six figures.
Key stakeholders are accumulating coins, indicating minimal resistance to further price increases.