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Ethereum (ETH) traders are showing signs of caution about its short-term price potential, with many seeing limited upside beyond $2,600. According to recent data from decentralized finance (DeFi) options protocols, the number of Ether call options sold far outweighs those bought, suggesting a bearish outlook or expectation of price stagnation.
Nick Forster, founder of Derive, highlighted that at the end of September, 34.5% of Ether calls were sold — where traders expect ETH to either stay flat or decline — compared to just 15.5% of calls bought. This imbalance indicates that traders believe Ethereum’s price gains may be capped in the near term, even as ETH has recently risen 7% to $2,615.
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In contrast, Bitcoin (BTC) is seeing more bullish sentiment, with significant open interest in options around $75,000 and $100,000, hinting at possible big movements ahead.
As we approach the U.S. presidential election in November, the performance divergence between Bitcoin and Ethereum will be closely watched. However, despite this short-term uncertainty, long-term confidence in Ethereum remains strong, with nearly 29% of all Ether staked, showing continued commitment from investors.
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