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Deribit Exchange Sees $7M Bullish Bet on Ether Hitting $6K by December
Deribit Exchange Sees $7M Bullish Bet on Ether Hitting $6K by December
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Deribit exchange News -
Institutional traders are making aggressive bullish bets on ether (ETH), with block traders executing a series of high-stakes options strategies targeting a $6,000 price level by year-end. Over $7 million was deployed across 30,000 contracts in $3,500/$6,000 call spreads, signaling strong conviction in ETH’s continued rally.
The trades were initially executed via Paradigm’s OTC platform before appearing on Deribit’s exchange. Each contract represents one ETH, making this one of the most substantial options plays in crypto markets this quarter. The strategy maximizes profitability if ETH surpasses $6,000 by the December 26 expiration.
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