Ether Traders Buy $4K Calls In Anticipation of Record High

Ether traders are taking a bold approach in a declining market, purchasing large numbers of ether September expiry call options at a strike level of $4,000. Despite the recent drop in ether’s market value, these traders are optimistic that the cryptocurrency will rally above $4,000 and potentially reach new all-time highs. This buying activity indicates their anticipation of record-breaking levels for ether. These call options give traders the right to buy ether at the specified price within a predetermined time frame. Institutional investors and large market participants are commonly involved in these block trades. While regulatory uncertainty and the limited chances of a spot ETF listing have restricted upward momentum for ether, recent developments, such as the potential approval of spot ether ETFs by the U.S. Securities and Exchange Commission and the dropping of an investigation into Ethereum 2.0, have sparked optimism among traders. Bloomberg’s ETF analyst expects ether ETFs to debut in the U.S. in the coming weeks, and traders buying $4,000 calls may be positioning themselves for potential market fireworks. However, not everyone shares this enthusiasm, as some observers, including JPMorgan, remain skeptical about the excitement surrounding ether.