Pro traders close Ethereum longs even after today’s $1.15B options expiry

Ether (ETH) rebounded from a $1,550 low on March 24, which marked a 17% fall from the $1,870 weekly high. Even though the $1.15 billion options expiry in the early hours of March 26 could have pressured Ether price, the continuing surge in gas fees for transactions likely played a part.

To better assess these forces, one should analyze top traders' exposure using data provided by the largest crypto exchanges. If the case for the options expiry holds, the long-to-short data from whales and arbitrage desks will show buying activity after the options expiry at 8:00 UTC.

Ether price at Coinbase, USD. Source: TradingView
Exchange's top traders Ether long-to-short ratio. Source: Bybt