Ethereum's call option activity has surged, with markets now assigning a 30% probability of the asset reaching $6,000 by year-end, up from just 7% early in July. This change is attributed to improved global risk sentiment following a new trade agreement between the U.S. and the EU, which stabilizes trade tensions. As this backdrop shifts, there is a growing interest in digital assets, with Ethereum experiencing an impressive price rebound, climbing from $3,570 to $3,900. Experts, including Nick Forster, highlight that this represents a significant re-pricing of the asset's tail risk. Charles Edwards also foresees a potential new all-time high for Ethereum in the next six to twelve months. Meanwhile, Bitcoin's performance has been strong, with indications of stability in the market, reflected in low implied volatility and strong demand from traditional investors post-ETF launch. Overall, the outlook for Ethereum remains bullish amid these macroeconomic adjustments and growing institutional interest.

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