Ether's (ETH) 81% rally over the last three weeks caught professional traders off-guard, and this week's upcoming options expiry reveals that of the $430 million in contracts set to expire, only 7% of the neutral-to-bearish put options will be available if Ether holds above $3,200 on Aug. 13.
Curiously, the crypto market is holding its recent strength despite the Senate's 'crypto-critical' infrastructure deal that recently passed. Although the $1 trillion infrastructure bill may encounter some lengthy hangups in the House of Representatives, the approved version did not clarify what constitutes a cryptocurrency broker, and this is expected to harm the industry in the future.
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