ETH Surges Past $3,500 as BTC Struggles Below $100,000: Analyzing Market Trends and Options Sentiment
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
Shorts pay
According to COINOTAG News, on November 27th, notable researcher Adam from Greeks.live highlighted that Bitcoin (BTC) has experienced a consistent trading range below the psychological threshold of $100,000 for an extended period. In contrast, Ethereum (ETH) has decisively surpassed the critical resistance level of $3,500, indicating a potential shift in market dynamics favoring ETH over BTC. This transition is catalyzing a broader recovery among altcoins.
Analyzing the latest options data, BTC’s short-term implied volatility (IV) has notably declined after reaching earlier peaks. Conversely, ETH’s IV has remained robust, maintaining levels above 80%, which suggests a strong upward momentum. The IV gap between BTC and ETH has now surpassed 20%, further emphasizing the distinct market sentiment.
Furthermore, market sentiment indicates a pronounced bullish outlook for ETH, significantly outpacing bearish sentiments. Given these insights, the current options landscape suggests a promising outlook for ETH, positioning it as a favorable candidate for call options purchases among traders.