Compared to the news, Deribit released an analysis on their platform, stating that Federal Reserve Chairman Jerome Powell’s speech after the CPI reinforced the policy stance, leading to a renewed bearish sentiment suppressing cryptocurrency prices.
However, there is optimistic sentiment in the timeline for the Ethereum ETF, as influential figures provided favorable news about the approval of the S1 ETH ETF, accelerating the timeline and bringing greater certainty, prompting quick traders to buy bullish options expiring on June 21st, ranging from $3500 to $3700.
Deribit suggests that the current situation is an excellent opportunity to buy bullish options, with spot prices at a low level, a high number of short positions, and suppressed bullish skew, with implied volatility lower than actual volatility.
Tags:
Ethereum
Bullish
Source link:
https://x.com/DeribitInsights/status/1801914192271642945
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