Ethereum's options markets now assign a 30% probability of the cryptocurrency reaching $6,000 by year-end, a significant rise from just 7% in early July. This shift follows a new U.S.-EU trade agreement that has improved global economic sentiment, enabling more favorable conditions for digital assets. The recent low volatility and funding rates suggest that the current price rally is driven by genuine spot demand rather than speculative trading. As Ethereum gains traction, it has seen an 8.8% increase, climbing from $3,570 to $3,900, while Bitcoin also rose by 4.45%. Nick Forster from Derive noted a marked increase in optimistic bets surrounding Ethereum, signaling a massive re-pricing in tail risks. Analysts expect Ethereum to continue its upward trajectory, with some predicting a new all-time high within the next six to twelve months. However, the market is also exhibiting signs of wear, prompting concerns over potential corrections amid economic developments like impending Federal Reserve interest rate announcements.

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