The post Optimistic Signs for Ether: Derivatives Traders Bullish on October Performance appeared on BitcoinEthereumNews.com.

Bitcoin has historically outperformed Ether in October, with bitcoin showing an average gain of 22.9% compared to Ether’s average gain of 5%, according to QCP Capital. Despite this trend, there are indicators of optimism for Ether in the derivatives market, suggesting it could potentially break its underperformance streak. Notably, there has been a surge in Ether call options for October, hinting at bullish sentiment among traders. Analysts indicate that Ether’s strong performance in October’s derivatives market could signal a shift in its historical underperformance compared to Bitcoin, with elevated call option volumes suggesting a positive outlook. October Derivatives Market: Indicators of Optimism for Ether October has traditionally been a robust month for Bitcoin, yet Ether has often lagged behind. However, recent activities in the derivatives market hint at a shift in sentiment. QCP Capital analysts noted a significant purchase of Ether October call options, indicating a considerable bullish outlook. According to Deribit data, over 63,600 Ether call option contracts, amounting to $167 million, are set to expire on October 11. Additionally, call options worth $69 million will expire on October 18. Surge in Call Options Marked by $2,800 Strike Price Ether call options with a $2,800 strike price scheduled to expire on October 11 have experienced the highest trading volumes in the past 24 hours. This data points to a distinct preference for call options over put options for the same expiry dates, illustrating the bullish sentiment among traders. The increased demand for these call options reflects optimism that Ether’s price will surpass the $2,800 mark by the expiration date. Implications of Derivatives Market Activity The increased activity in Ether call options, particularly for October expiries, suggests a positive near-term outlook for Ether. Such robust trading volumes and the disparity between call and put option contracts indicate confidence among market…

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Filed under: News - @ October 1, 2024 3:25 pm