"Option Traders Expect Ethereum to Outperform Bitcoin"

An analysis has emerged that option traders are expecting Ethereum (ETH) to outperform Bitcoin (BTC).

On the 28th (local time), CoinDesk cited data from the cryptocurrency options exchange Deribit, stating, "Most option market traders are forecasting a rise in Ethereum," and "In the short term, bullish sentiment towards Ethereum could grow even stronger."

It was particularly noted that the bullish sentiment towards Ethereum is stronger than that for Bitcoin. Currently, the Deribit 25 Delta Risk Reversal for both Bitcoin and Ethereum is recording positive values. This indicates that the demand for call options, which predict a rise, is higher than for put options for both assets. However, for Ethereum, this figure surpasses Bitcoin, indicating a stronger upward outlook.

Additionally, the increasing trend in open interest (OI) for futures on the Chicago Mercantile Exchange (CME) supports this. Since April, Bitcoin futures open interest has risen by about 70% to reach $17 billion, but has shown stagnation over the past 7 days.

In contrast, Ethereum's open interest has risen by 186% over the same period, reaching $3.15 billion. Furthermore, the pace of increase in open interest is accelerating, according to the analysis. The media evaluated, "This shows that institutional investors' interest is increasingly shifting towards Ethereum."

Furthermore, attention was drawn to the Ethereum futures premium and perpetual futures funding rate. The media noted, "The annualized premium for 1-month Ethereum futures is at 10.5%, the highest since January," while "the Bitcoin futures premium was only 8.74%." It added, "The annualized funding rate for Ethereum perpetual futures is at 8%, whereas Bitcoin is below 5%."

As of 9:54 PM, Ethereum is trading at $2,666 on the Binance USDT market, up 0.90% from 24 hours ago.