The largest cluster of open interest for ether options is currently $5,000 calls for the end-of-June expiry — indicating a bullish outlook with traders using call spreads between $4,000 and $5,000 to position for potential price rises, analysts said.
The analysis outlined how traders are buying call options with a $4,000 strike price and selling call options with a $5,000 strike price, both expiring at the end of June 2024. "The options market has a bullish outlook for June, even as the spot market consolidates, and if the current trend persists, we may be on the brink of another bullish rally in the near future." Lin added.
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