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.