Ethereum News Today: Bitcoin Traders Bet $23.6 Billion on $140,000 Price Target Ethereum Traders Bullish on $4,000 Price Target

Traders are currently exhibiting a strong sense of optimism in the options market, with significant bets being placed on the rise of Bitcoin and Ethereum. Data from the options trading platform Deribit reveals that traders have accumulated $23.6 billion in notional open interest on $140,000 call options, making it the most popular bet on the platform. This substantial investment in high-strike call options indicates a bullish outlook, as traders anticipate a significant increase in Bitcoin's value. Additionally, call options at $120,000 and $130,000 have also seen strong positioning, further emphasizing the market's optimistic sentiment. In contrast, the open interest for $100,000 put options is only half of the largest call option, underscoring the overall bullish trend.

The Ethereum options market is also reflecting a similar bullish sentiment. According to Amberdata, $4,000 call options lead with $6.508 billion in open interest, and $6,000 call options have attracted nearly $2.8 billion in funds. This data suggests that traders are confident in Ethereum's potential to reach and surpass these price points. Decentralized platform data further confirms Ethereum's optimistic trend. Derive indicates that 25% of the past 24 hours' ETH trading volume is concentrated in call options expiring on July 25th with a strike price of $3,000-$4,000, with the $4,000 call option for that expiry date holding 8% of the open interest. This concentration of trading volume in high-strike call options strongly indicates that traders anticipate a rapid and sustained breakout in Ethereum's price. As bullish confidence grows, leveraged long demand is increasing, according to Sean Dawson, Derive's Head of Research.