Analysis/Ethereum Price Forecast: $42B Derivatives Volumes Signal $2,000 Rally after Ethereum Foundation Replaces CEO
Ethereum Price Forecast: $42B Derivatives Volumes Signal $2,000 Rally after Ethereum Foundation Replaces CEO
Ethereum price jumped above $1,800 amid bullish derivatives flows and optimism following major governance updates at the Ethereum Foundation.
Ethereum Foundation replaced its CEO model with co-directors, focusing on execution and Layer 1 scaling.
Options volume rose 3.75%, open interest hit $4.08B, and top traders are heavily long ETH.
ETH retook 20-day average, presses upper Bollinger Band at $1,892, with upside target set at $2,000
Ethereum price rebounded above $1,800 on Thursday as traders react positively to leadership shake-up at the Ethereum Foundation and capital rotation out from altcoin exposed to SEC oversight risks.
Ethereum Derivatives Point to Bullish Momentum Toward $2,000
Coinglass‘ derivatives market reflects growing optimism among traders after the leadership shuffle at Ethereum Foundation. The 24-hour long/short ratio stood at 0.9912, indicating near-equal positioning, but top trader data paints a different picture. On Binance, the top trader long/short ratio (by accounts) is 2.6778, while positions data shows 1.9521, suggesting whales are leaning long.
Additionally, options volume rose by 3.75% to $435.21 million, with open interest climbing to $4.08 billion, up 1.50%. The increasing options activity indicates traders are hedging for volatility, with a bias toward upside price moves.
Liquidation data over 24 hours showed $69.56 million in rekt positions, with long liquidations at $49.78 million and shorts at $19.78 million, highlighting a more aggressive attempt to chase further price gains.
