Giant Whales Bet Big on Ethereum (ETH) & Bitcoin (BTC), Sparking Market Optimism

📆 05/07/2023 03.19.00
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Bitcoin $BTC and Ethereum $ETH primed for second half rally as whales' bets indicate bitcoin btc btcusdt ethereum eth ethusdt

In particular, a considerable number of block calls, primarily involving Buy-DEC-2200C/2400C and Sell-DEC-3000C Ethereum contracts known as bull spreads, dominated the trading floor.

These bullish strategies suggest that traders anticipate favorable price movements for ETH. Impressively, over 12,500 sets of these options contracts were traded, with a total notional value exceeding $50 million, indicating a significant response from the market.

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