“Volatile price moves are always around the corner,” Nicholas Cawley, an analyst at DailyFX, wrote in an email to CoinDesk.
“The Taproot upgrade will likely be activated by the end of this week or early next week,” crypto trading firm QCP Capital wrote in a Telegram announcement.
Meanwhile, at Coinbase, the exchange’s trading desk continues to have higher volumes.
Options traders are overwhelmingly bullish on ether after the cryptocurrency reached an all-time price high around $4,800 on Wednesday.
Some analysts maintain high price targets for ether this year.
Call options provide the holder with the right to buy the underlying asset at a predetermined price until a defined expiration date.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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