Keep dreaming! Options data suggest $560 Ethereum price won’t happen

This week (BTC) and Ether (ETH) prices reached new highs as a slew of bullish news continued to pump investors’ hope that the next crypto-bull market will mirror the one seen in 2017.

Many novice traders simply follow spot prices on the major crypto exchanges to gauge the direction price might take. However, reviewing options markets data can provide additional relevant insights on market sentiment.

ETH options open interest by strike, in ETH thousands. Source: Skew
BTC options open interest by strike, in BTC thousands. Source: Skew