Analyst Says Investors Expect $4,000 in Ethereum by the End of June, Explains Why!

While the leading cryptocurrency Bitcoin exceeded $ 46,000 with its strong rise, the largest altcoin Ethereum approached $ 2,500.

While analysts generally remain optimistic for the ETH price, given the expectation that spot Ethereum ETF applications will be approved in May, option data also gives a positive signal.

According to data from Deribit, Ethereum call options expiring in June are concentrated around the $4,000 price.

Speaking to The Block, Deribit Commercial Officer Luuk Strijers also shared the charts for Ethereum call options and said that investors are waiting for $ 4,000 in ETH:

“As you can see from Deribit data, the $4,000 price is the largest of both the June and September call option expirations.

The concentration on the $4,000 strike price indicates that market participants and investors have expectations that the Ethereum price will rise above $4,000 by the options expiration dates.

This concentration may reflect a consensus or speculation about the potential future movement of the Ethereum price in the market.”

Continuing his assessment of the potential ETF approval and its impact on the ETH price, the Deribit executive said that it is not yet clear whether derivative investors expect a price increase after the potential approval of the spot ETH ETF and that it is too early to draw a conclusion on this issue.

“Option data in June is higher than in April, and the expectation is relatively higher, but it is difficult to make a connection for now, especially with the Ethereum ETF approval news or the expected correlation with the BTC halving.

“Because the impact of these events on the Ethereum price remains unclear.”

Ethereum continues to trade at $2,475 at the time of writing.

*This is not investment advice.