Bullish flows have returned to ether’s options market with institutions purchasing higher strike or out-of-the-money call options.
31 saw a trading volume of more than 12,000 in the past 24 hours, while the $6,500 strike call has registered a volume of over 10,000 contracts.
“Aside from activity in the $5,000 and $6,500 calls, we also saw interest in calls at $7,000, $10,000, and $12,000 strikes,” Chu added.
Put-call skews currently paint a mixed picture with one-week and one-month gauges flashing positive values, signifying increased demand for short-term downside protection or puts.
Ether has fallen by more than 8% this week to near $4,200.
“Bitcoin has been looking tired in recent sessions after failing to extend the record run.
Pankaj Balani, CEO of Delta Exchange, said expectations for a faster unwinding of stimulus by major central banks and the U.S.
In the wake of high inflation, traditional market traders are pricing a higher probability of an early interest rate hike by the Federal Reserve .
Balani added that “bitcoin’s appears exhausted, having failed to force a convincing breakout beyond the record high zone near $65,000 for almost four weeks.” The cryptocurrency topped the April high of $64,889 on Oct.
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