$ETH Traders are using bearish ETH options to hedge after Ether’s 49% rally in May.

An altcoin ETF listing season could negatively impact ETH’s market dominance and price action.

Ether ETHUSD price surged 10% between Monday and Tuesday, reaching its highest level in over 15 weeks. Despite this rally, ETH has consistently struggled to break above the $2,800 mark over the past month. This resistance level has coincided with a growing use of downside protection strategies in ETH derivatives markets.