Ethereum $ETH is approaching its moment of truth . Its market is heading toward a pivotal moment. According to AZC News, $5 billion in options contracts are set to expire on Aug 29.
Currently, ETH has a $557 billion market capitalization, placing it among the world’s top 30 traded assets—surpassing Mastercard (MA) and Exxon Mobil (XOM). Historical data reveals a correlation of over 80% with the S&P 500, showing that traders often apply similar risk frameworks to both.
ETH rally earlier blindsided bearish traders, most of whom had positioned bet at $4000 or lower. Though the price faced rejection at $4,800, bullish strategies remain in control.
Only 6% of sell contracts were placed at $4,600 or higher, while 71% of buy contracts sit below $4,600, with heavy clusters around $4,400–$4,500. This imbalance highlights strong bullish momentum to defend higher price levels.
Expiry in this Friday (Aug 29) is set to deliver a decisive win for the bulls.
