Ethereum Will Spike To $4000 By The End Of June – Analysts Explains

As Bitcoin, the top cryptocurrency, surged past $46,000 with significant momentum, Ethereum, the largest alternative coin, approached the $2,500 mark. Analysts are generally optimistic about the price of ETH, as they anticipate the approval of spot Ethereum ETF applications in May, and option data also indicates positive prospects.

Based on Deribit’s data, Ethereum call options expiring in June are heavily focused on the $4,000 price point. They also provided charts for Ethereum call options, indicating that investors are anticipating ETH to reach $4,000.

The concentration on the $4,000 strike price indicates that market participants and investors have expectations that the Ethereum price will rise above $4,000 by the options expiration dates.

Continuing his evaluation of the possible ETF approval and its effect on ETH’s price, the Deribit executive mentioned that it’s uncertain whether derivative investors anticipate a price surge following the potential approval of the spot ETH ETF. It’s too early to determine the outcome of this matter.

This clustering could indicate agreement or speculation regarding Ethereum’s potential future market movements.”

Regarding the potential approval of the ETF and its effect on ETH’s price, the Deribit executive expressed uncertainty about whether derivative investors anticipate a price rise following the potential approval of the spot ETH ETF. It’s too soon to reach a conclusion on this matter.

“Option data in June is higher than in April, and the expectation is relatively higher. However, it is difficult to make a connection for now, especially with the Ethereum ETF approval news or the expected correlation with the BTC halving. 

“Because the impact of these events on the Ethereum price remains unclear.”

Ethereum continues to trade at $2,512.73 ETH (3.21% higher) at the time of writing.