Ethereum Options Traders Remain Bullish Despite Recent Drop: Kaiko

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ethereum (eth) options traders maintain a bullish stance despite recent market turmoil. according to Kaiko analysts. This analysis is supported by the dynamics of the put-call ratio, which increased in May and suggested bearish sentiment as more puts were purchased than calls.

However, this trend reversed in June when the ratio declined, indicating a shift towards bullish bets. This optimism is further supported by trading volumes at higher strike prices for December expirations, where a significant number of call options exceed current price levels.

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The positive change in trader sentiment can be linked to recent regulatory developments, Kaiko analysts highlighted. Last week, the SEC concluded its investigation into ConsenSys regarding ethereum's status as a security, which has likely contributed to the bullish outlook among traders.

Additionally, as crypto Briefing reported, ethereum spot exchange-traded funds (ETFs) are likely to begin trading in the US on July 2. This information was later reiterated by Bloomberg ETF analyst Eric Balchunas.

Therefore, this could trigger a price jump for ethereum, as experts shared with crypto Briefing close to the ETF's approval in May. Although some of the bullish movement may already be priced in, there is a strong possibility that eth will dramatically increase in price following the start of ETF trading in the US.