In a notable market move, an Ethereum whale has opened an $11.15 million leveraged long position on ETH right as its price surged above $2,850. This position represents a bet of approximately 4,000 ETH at an entry price of $2,758.35, with current market conditions indicating an unrealized profit of $366,600. The recent increase in ETH price has been linked to changing economic expectations, specifically a potential interest rate cut by the Federal Reserve due to decreasing inflation metrics.
Significant bullish sentiment is reflected in Ethereum's options market as well. Indicators show a shift in the 25-delta skew toward a more positive outlook. For example, the skew for options expiring in one week dropped from -2.4% to -7.0%, demonstrating a growing preference for call options among traders.
Following a breakout from a bull flag pattern, ETH has seen a solid upward trend, which some analysts project could lead to a price target of around $3,670 by the end of June. This anticipated increase follows a strong price rise over the past two months, driven by Ethereum's recent upgrades and market reshaping. Some market commentators even suggest a price target of $4,000 in 2025, with optimistic fractal analyses hinting at possible future values between $5,000 and $6,000.
Investors should keep a close watch on ETH movements, as the whale's leveraged position exemplifies a significant belief in upward momentum. However, caution is advised, as crypto investments inherently carry risks, and investors are encouraged to conduct thorough research before making any moves.
Significant bullish sentiment is reflected in Ethereum's options market as well. Indicators show a shift in the 25-delta skew toward a more positive outlook. For example, the skew for options expiring in one week dropped from -2.4% to -7.0%, demonstrating a growing preference for call options among traders.
Following a breakout from a bull flag pattern, ETH has seen a solid upward trend, which some analysts project could lead to a price target of around $3,670 by the end of June. This anticipated increase follows a strong price rise over the past two months, driven by Ethereum's recent upgrades and market reshaping. Some market commentators even suggest a price target of $4,000 in 2025, with optimistic fractal analyses hinting at possible future values between $5,000 and $6,000.
Investors should keep a close watch on ETH movements, as the whale's leveraged position exemplifies a significant belief in upward momentum. However, caution is advised, as crypto investments inherently carry risks, and investors are encouraged to conduct thorough research before making any moves.
