 ▲ Ethereum (ETH) ©Coin Leaders |
Major cryptocurrencies, including Bitcoin and Ethereum, are showing signs of a rebound, rising by an average of about 2% over the past 24 hours. According to CoinMarketCap, as of 8:49 am on the 26th (Korean time), the price of 1 Bitcoin is $61,755, up 2.38% from 24 hours ago. At the same time, Ethereum, the second largest coin in market cap, is trading at $3,394, up 1.23%. The total cryptocurrency market capitalization also increased by 1.97% compared to 24 hours ago and is currently at $2.28 trillion.
Meanwhile, The Block cited multiple analysts and said, “Currently, in the put-call option ratio expiring at the end of June, call options are higher than put options. “This suggests that the bullish sentiment in the cryptocurrency market is still strong,” he said. In relation to this, Bartosz Lipinski, CEO of Cube Exchange, said, “In particular, the call option on Bitcoin above $65,000 “This figure exceeds the put option, showing that the impact of the bull market is greater than negative factors such as the German authorities’ massive Bitcoin sale and the BTC spot ETF, which lost about $900 million last week.”
Also, according to Crypto Briefing, Kaiko's report said, "ETH option traders are still optimistic about the rise in ETH price despite the recent decline in cryptocurrency prices. In May alone, there were more put options purchased than ETH call options, but 6 Call option purchases have increased in January, and the December expiration call option strike price is also higher than the current price. This change in traders' attitude is due to expectations of the approval of the U.S. ETH spot ETF and the Securities and Exchange Commission's (SEC) investigation into Ethereum 2.0. “This is due to favorable factors such as the end of the year,” he analyzed.
