Traders’ bets on the rising value of Ethereum have significantly increased: the most popular option on Deribit is the call option with a strike price of $6500. The nominal open interest for this contract has surpassed $380 million, setting a record among all options for this cryptocurrency.
This is reported by Business • Media
Demand for Call Options Fuels Growth Expectations
In addition to the $6500 option, contracts with strike prices of $4000, $5500, and $6000 are also popular among traders. Bets on $6500 indicate market confidence in the potential growth of Ethereum, despite recent market weakness.
Ethereum is “the infrastructure on which the future financial system will be built.”
November was one of the most challenging months for Ethereum in recent years — the asset fell by 22.38%, marking the worst monthly decline since 2018. However, by December, the situation stabilized, and the price returned above $3,000.
Volatility, Forecasts, and Institutional Demand
Throughout 2025, Ethereum exhibited significant volatility. In March, analysts referred to the ETH/BTC ratio as a “falling knife” when the coin’s price dropped to $1892, matching the level of November 2023. However, by August, a new local maximum was recorded — over $4880, the highest value since 2021. This triggered mass liquidations totaling over $769 million, half of which was attributed to Ethereum.
Despite the fluctuations, Deribit data indicates sustained optimism regarding further price growth. The high demand for options with a strike price of $6500 reflects traders’ expectations to see a return to historical highs previously projected by leading research firms.
- Steno Research predicted back in June 2024 that Ethereum would rise to $6500 due to interest in spot ETFs.
- VanEck suggested a potential increase in the coin’s price to $22,000 by 2030, citing advancements in scaling technologies and the popularity of ETFs.
- Arthur Hayes, co-founder of BitMEX, expressed expectations for growth to $10,000–$20,000, noting the coin’s advantages over other cryptocurrencies and its price dependence on institutional investments.
Thus, the option positions on Deribit and expert forecasts indicate a resilient market optimism regarding Ethereum’s further strengthening in the cryptocurrency market.