The question now arises: Are we poised to witness ETH's price testing the $3,200 level soon 🤔 as suggested by this strategic options move?
Major Player's
$ETH Options Move Sparks Market Speculation
A recent post by WuBlockchain revealed a significant development in the crypto options market.
A major player invested $1.63 million in option premium to purchase 12,500
#putoptions on
#ETH with a strike price of $3,400 expiring on March 29th.
This substantial purchase marks the largest bulk acquisition of ETH options to date, signaling a notable bearish sentiment.
The investor stands to profit only if ETH falls below $3,270 by the expiration date, potentially capitalizing on a significant pullback or sharp decline.
The timing of this move coincided with a market downturn, prompting speculation about the trader's foresight and potential impact on ETH's price trajectory.
The question remains same: Are we poised to witness ETH's price testing the $3,200 level soon, as suggested by this strategic options move?