$ETH The price of ETH exceeds 2,800 dollars as options traders open bearish positions

The price of Ether continues to show strength at 2,800 dollars even as some traders adopt bearish options strategies

Traders are using bearish ETH options to hedge after Ether's 49% surge in May.

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

In addition to standard call and put options, traders often use combinations of instruments to design strategies aimed at maximizing profits above certain levels or reducing exposure to losses. Therefore, monitoring the demand for these options offers insights into how professional traders are positioning themselves

Part of the market's caution may be attributed to the 49% increase in Ether's price since May, while competitors like Solana (SOL) and XRP gained 8% and 2%, respectively. Traders fear that ETH's competitive edge could erode if the U.S. Securities and Exchange Commission approves exchange-traded funds (ETFs) for rival altcoins