Analysis: Options data indicates that the market is more optimistic about a decline in Ethereum prices

ChainCatcher message, Amberdata analysis indicates that Ethereum-related options show a trend of weakening ETH prices in the next three months, followed by a slight inclination towards strengthening prices in the subsequent months. The weekly bullish-bearish divergence for Ethereum dropped to nearly -8 on Wednesday, the lowest level in over three months, suggesting that the market is more optimistic about a decline in Ethereum prices.

Earlier this month, observers noted that Ethereum (ETH) could become a market leader in the coming months, adding that the native token of the Ethereum blockchain qualifies to be a core holding in a diversified crypto portfolio. As of now, the options market does not agree with this view.