Ethereum's call option activity has surged, with options markets now assigning a 30% probability of the cryptocurrency reaching $6,000 by year's end, compared to just 7% in early July. This increase in confidence in Ethereum is linked to a recent U.S.-EU trade deal, which alleviates global risk sentiment and positions digital assets more favorably. Despite record-high liquidity in the U.S. economy, Ethereum has shown resilience, gaining 8.8% in response to this optimism while Bitcoin saw a 4.45% rise. Analysts attribute the rise in Ethereum's price target to a re-evaluation of tail risk, signaling changing investor sentiment. While the broader crypto market may show signs of fatigue, indications suggest that upcoming economic events, including potential shifts in interest rate policy, could further enhance momentum in cryptocurrency prices. Ethereum's positioning has also been bolstered by institutional demand through ETFs, outperforming Bitcoin ETFs as investor interest grows. As the market remains cautious yet hopeful, observers anticipate a significant year-end rally in digital assets.

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