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Here’s why Ethereum bulls don’t care about Friday’s $40M ETH options expiry

Published 10/29/2020, 08:34 PM
Updated 10/29/2020, 10:20 PM
Here’s why Ethereum bulls don’t care about Friday’s $40M ETH options expiry
BTC/USD
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ETH/USD
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In the last few days Bitcoin (BTC) price rallied within a hair of the $14,000 level and Ether (ETH) followed with a similarly strong performance but the altcoin failed to hold above the $400 physiological support.

Bitcoin and Ethereum year-to-date performance. Source: Digital Assets Data

Although Ether price is below $400, data show traders are not worried about Friday’s options expiry. Investor optimism has been kept intact despite the recent decentralized finance (DeFi) lackluster performances.

ETH options open interest. Source: Cointelegraph
October ETH options. Source: Deribit
December ETH options. Source: Deribit
3-month options 25% delta skew. Source: Skew
ETH top traders long/short ratio. Source: Huobi and OKEx

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