ETH options market bullish contracts account for over 70%, institutional analysts predict that prices may reverse and hit $4,000

According to CoinGlass data on February 16th, over 70% of the unpositioned squaring contracts in the current Ethereum (ETH) options market are bullish contracts. Nansen research analyst Nicolai Sondergaard pointed out that this position structure indicates that investors are "cautiously optimistic" about the mid-term appreciation of ETH. Although the current price of ETH is still about 44% lower than the historical high of $4,890 in November 2021, market sentiment has gradually turned positive.

 

On the same day, Ed Hindi, Chief Investment Officer of Tyr Capital, publicly stated that ETH may currently be at a "peak bearishness", and both Technical Fundamentals and market sentiment suggest that the price trend may be about to reverse. He predicts that if it breaks through the key resistance level, ETH is expected to rise to $4,000 in the short term. Analysts pointed out that the combination of derivative market holdings and institutional bullish signals may provide momentum for the rebound of ETH price, but we need to be vigilant about latent risks such as macro market fluctuations and weak on-chain activities.