Ethereum options data show pro traders ready to go long into ETH’s Merge
ETH price hit resistance at the $1,600 level, but this is not stopping options traders from opening fresh leveraged longs.
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ETH price hit resistance at the $1,600 level, but this is not stopping options traders from opening fresh leveraged longs.
Data shows investors jumping back into fiat and a lack of bullish leverage in the crypto market suggests another correction is in the making.
BTC derivatives used by whales and market makers do not support a continuous price recovery above $24,000.
BTC bulls aim to secure a $235 million profit from July 22’s BTC options expiry, but a downside move below $22,000 could nix this plan.
It’s too early to know if DeFi is “dead,” but platforms that share revenue with liquidity providers and token holders could be the ones that survive the bear market.
Bitcoin’s failure to break above $22,000 on July 8 opened room for bears to score a $100 million profit in this week’s options expiry.
Data shows Ethereum options traders are less bearish that before, and margin-based markets recently saw some investors go ultra-long on 491,000 ETH.
BTC bulls think the bottom is in, but a neutral-to-bearish price formation and the absence of a futures premium contradict their optimism.
"Derivatives provide opportunities to protect their portfolios during times of heightened market volatility," says Emerson Li, brand lead at BingX.
Bitcoin’s derivatives metrics reflect slight improvements since the $17,600 low, but whales and market makers continue to price higher risk of another breakdown.