2 hours ago
Ethereum's autochthonal token, ether (ETH), continues its almighty surge, sparking frenzied enactment successful the Deribit-listed options market, wherever traders are making bullish bets connected further upside.
Over the past 24 hours, traders person spent much than $5 cardinal connected the $5,000 onslaught telephone enactment expiring connected Sept. 26, per information tracked by Amberdata. The buyers are betting connected an ETH breakout supra $5,000 by the extremity of this quarter. As of writing, ether changed hands astatine $4,670, representing a 26% summation for the month, according to CoinDesk data.
Traders besides picked up calls astatine the $5,500 and $6,000 strikes and bull telephone spreads. OTC tech level Paradigm said successful a Telegram update that a marketplace subordinate lifted the December expiry telephone astatine the $7,500 strike.
According to analysts, determination is plentifulness of upside successful ether, which has lagged not lone bitcoin but besides XRP successful mounting grounds highs during this cycle.
"With everyone sidelined from ETH and sentiment being wholly successful the dumps, determination remains a batch of country for ETH to drawback up. Immediate targets are $5,000 (breaking into caller ATH territory) and astir $7,200 (given the mid-range ETH/BTC terms of 0.06 with BTC astir $120k)," Greg Magadini, manager of derivatives astatine Amberdata, said successful a play note.
According to blockchain analytics steadfast Santiment, the terms surge of ETH is characterized by persistent selling from retail traders.
"Prices historically determination successful the other absorption of retail traders' expectations. There was an lawsuit of utmost greed backmost connected June 16, 2025 and July 30, 2025, which led to terms corrections. But traders person shown FUD and disbelief arsenic the plus makes higher and higher prices," Santiment said connected X.
"With cardinal stakeholders accumulating escaped coins that tiny $ETH traders are consenting to portion with close now, prices are showing precise small sentiment absorption from breaking done and making past successful the adjacent future," the steadfast added.
ETH is present conscionable 4.4% abbreviated of its all-time precocious of $4,861 deed successful November 2021. It's peer, BTC, topped its 2021 highest successful March past twelvemonth and has rallied into six figures since then. Throughout this period, ETH remained range-bound betwixt $2,000 and $4,000.
Read more: Bitcoin Holds Near $120K, Ether Rallies Towards $4.7K connected Trump's Comment, Fed Rate Cut Bets
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