**Crypto Market Update: Traders Skeptical on Ether, Optimistic on Bitcoin**

Recent data from DeFi options protocol Derive reveals a cautious outlook on Ether (ETH) among traders. According to Derive founder Nick Forster, there are 2.5 times more calls sold than bought for ETH, indicating limited upside potential. Specifically, 34.5% of Ether calls were sold by the end of September, compared to just 15.5% bought.

In contrast, Bitcoin (BTC) shows significant open interest at $75,000 and $100,000 strike prices, suggesting traders are preparing for substantial movement. Forster notes these levels could act as key barriers or breakout points.

As the U.S. presidential election on Nov. 5 approaches, the divergence between BTC and ETH will be crucial to monitor. Currently, Ether trades at $2,615, up 7% since Oct. 7.

Despite short-term skepticism, long-term confidence in ETH remains strong, with nearly a third of all Ether staked, reflecting ongoing interest in the crypto asset and its rewards.