Bitcoin Price
The leading Crypto Options Exchange Deribit data showed that traders have $2.36 billion open interest in the $140,000 strike call option, making it the most popular bet on the platform. This robust positioning ranges to $120,000 and $130,000 call strikes.
Interested in BTC options. (Deribit/Amberdata)
In contrast, the put options, the most popular on the $100,000 strike, hold only half of the open interest of top call, highlighting the strong bullish sentiment of the market.
The etheric option draws a similar bullish picture. At the time of writing, the $4,000 call was the heaviest, with an assumption of open interest of $650 million, according to data source Amberdata. Meanwhile, nearly $280 million was locked into call options on a $6,000 strike.
Call options give the owner the right thing, but do not provide the obligation to purchase the underlying assets at a given price before a certain date. Cole buyers are implicitly bullish in the market, while put buyers are bearish.
The ETH option is open to interest. (Amber Data/Delibit)
Market trends on decentralized platforms paint a bullish picture of the ether.
Derive told Coindesk that 25% of ETH trading volume in the last 24 hours has been concentrated in its July 25th expiration date between $3,000 and $4,000. Additionally, 8% of its July 25th expiration date is locked to a $4,000 call.
“It's a strong signal that (that) traders are in line with fast, continuous breakouts, reflecting the growing desire for leveraged long exposures as bullish convictions build,” Dr. Shawn Dawson, Derive's research director, told Coindesk.
ETH's bullish bias could be catalyzed by the development of positive regulations in the United States, particularly the passing of regular regulations of the Genius Act. The bill is said to be heavy on the silly idiots that support the yield, marking a positive pivot for decentralized finance controlled by Ethereum.
“Two major changes in the post-Genius landscape are expected. First, the financial officer seeking encrypted yield will become increasingly changing to native ETH staking and transparent re-grid vaults. Email.
“Both trends are likely to increase Ethereum's trading activities and fee generation, strengthen the long-term value of ETH, and strengthen the Treasury lawsuits for the facilities that hold it,” Li added.
Read more: Coinbase, Robinhood hit record highs as US homes pass landmark cryptography
