Ethereum options traders still bullish despite recent crash: Kaiko

Ethereum (ETH) options traders maintain a bullish stance despite the recent market turbulence, according to analysts at Kaiko. This analysis is backed by the put-call ratio dynamics, which raised in May and suggested a bearish sentiment as more puts than calls were bought.

However, this trend reversed in June as the ratio declined, indicating a shift towards bullish bets. This optimism is further supported by the trading volumes at higher strike prices for December expiries, where a significant number of calls exceed the current price levels.

The positive shift in trader sentiment can be linked to recent regulatory developments, Kaiko analysts highlighted. Last week, the SEC concluded its investigation into ConsenSys regarding Ethereum’s status as a security, which has likely contributed to the bullish outlook among traders.

Moreover, as reported by Crypto Briefing, the spot Ethereum exchange-traded funds (ETF) are likely to start trading in the US on July 2nd. This information was later reiterated by Bloomberg ETF analyst Eric Balchunas.

Therefore, this could potentially trigger a price leap for Ethereum, as experts shared with Crypto Briefing near the ETF approval in May. Although some of the upward movement might be already priced, there’s a significant chance that ETH might sharply increase its price following the start of the ETF trading in the US.

This article was originally published by a cryptobriefing.com . Read the Original article here. .