Ethereum price could see $3.5-4K in Q1 2023, options data suggests.
Ethereum options traders bet on 160% ETH rally
As macro indicators turn short-term bullish for risk markets, Ethereum options traders have grown confident about a possible price rally in the first quarter of 2023. Notably, the Ethereum open interest for contracts expiring on Mar. 31 is majority bullish, with most strike targets falling inside the $3,500-$4,000 range, according to data tracked by Glassnode.The upside outlook receives a further boost from Jiang Zhuoer, the CEO/co-founder of Bitcoin mining service B.TOP, who
Ether would permanently break out from its current bottom range anywhere between March and May 2023, citing its deflationary supply in recent months."Looking at the data of Ethereum, the inflation rate was 3.59% when ETH was in Proof-of-Work . Bitcoin's inflation rate is 1.72%," he wrote, adding: "Even after the bear market, with the inactive coin burning, the ETH inflation rate is as low as 0.01% [...] From this data, it can be concluded that the ETH bull market will start in a spiral deflationary mode."However, the Fed would need to see a sustained decline in inflation before it puts a brake on its rate-hiking-spree,
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