BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Deribit Exchange Sees Massive $5K ETH Call Options as Traders Bet on Record Breakout
Deribit Exchange Sees Massive $5K ETH Call Options as Traders Bet on Record Breakout
12
3
Deribit exchange News -
Ethereum's native token surges toward all-time highs, with Deribit options traders aggressively positioning for a $5,000 breakout by September. Over $5 million flowed into $5,000-strike calls in 24 hours, while bullish spreads target $7,500 by December.
The 26% monthly rally comes as ether plays catch-up to Bitcoin and XRP this cycle. "ETH sentiment was in the dumps, leaving massive upside potential," notes Amberdata's Greg Magadini, who sees $7,200 as a viable target should Bitcoin reach $120,000.
Blockchain data reveals an intriguing dynamic: retail traders continue selling into the rally. Historically, such persistent distribution coincides with sustained upside momentum when smart money accumulates positions.
By:
