Crypto traders pile $110 million into bets that Ethereum’s price could fall as low as $1,300 – DL News
- Ethereum options traders are mostly bearish about its price this month.
- The second-biggest cryptocurrency is down 47% since Eric Trump’s endorsement.
- Traders and investors alike are dumping Ethereum.
There’s $110 million riding on Ethereum’s price flopping in April.
Data from crypto derivatives exchange Deribit shows that options traders are stacking bearish bets on Ethereum, with $110 million poured into contracts that will pay out if the price doesn’t exceed $1,800 in April.
A hefty chunk of those bearish bets are bracing for Ethereum’s price to nosedive to $1,300.
“Ethereum short sells are at an all-time high [as] institutions are driving the price down,” Zach Burks, CEO of Mintology, an NFT platform, told DL News earlier in…
