$TREE The ETH options reflect neutral conditions despite the rebound.
The ETH options market provides clues to assess whether traders have missed the rebound and are waiting for a better entry, or if, on the contrary, they expect a price drop below USD 4,000.
In bearish setups, the delta skew of the options is above the neutral mark of 6%, as put contracts demand higher premiums. Conversely, excessive optimism will cause the indicator to fall below -6%.
Currently at -3%, the delta bias of ETH options indicates a neutral sentiment. The metric has improved significantly since August 2, when it briefly turned bearish after a price drop of 13%.
In summary, professional traders are not aggressively bullish, but neither do they expect ETH to retest USD 4,000. The increased institutional demand for ETH holdings helps explain this shift in sentiment.
The publicly traded company BitMine Immersion (BMNR) announced on Monday that it had added 317,126 ETH to its corporate reserves, valued at USD 1.35 billion at current prices. Meanwhile, Sharplink Gaming (SBET) revealed that it had raised nearly USD 9.00 million to expand its ETH reserve strategy.
The company already holds around 600,000 ETH on its balance sheet, worth over USD 2.55 billion at current exchange rates.
