Will the ETH whales be able to pump ETH?
Today, as well as with BTC, the expiration of Ethereum options for $1.27 billion will take place.
The ratio between the bulls and the bears is $685 million versus $585 million.
Bulls can make money - if ETH reaches the $1.7K-$1.8K range by the time of expiration. A large share of Call options is placed here - 192,700, and the bulls' profit will reach $290 million.
Bears, on the other hand, will only be able to get in the black when ETH is below $1,600. Naturally, the bulls will do their best to prevent such a pullback.
But with ETH $1.6k to $1.7k - the bulls will stay in the black and earn $150 million. Those who bet on the rise need to keep the price above $1,600 at the time of expiration.
