Colin Wu: Major Investors Expect Ether to Fall to $400 – Cryptonium News

Colin Wu: Major Investors Expect Ether to Fall to $400

A Chinese virtual currency journalist and blogger reported on Twitter that some market whales are convinced the second most capitalized virtual currency will fall to $400 and are already betting on it through put options.

Collin Wu refers to the @Blofin_Official account, which regularly shares analysis. According to his tweets, 26, 000 ETH put options were recently placed. The strike price (the price at which the asset can be sold at a lower market value) is $400 and the options expire in June.

Recently, there was a large order for 26, 000 ETH put options with a strike price of $400 and an expiration date of June 30. Some traders believe this is cryptocurrency whale tail management behavior. According to @Blofin_Official pic. Twitter. com/VmYC44939h

  • – Wu Blockchain (@WuBlockchain) January 7, 2023

This is a value the world’s second most capitalized virtual currency hasn’t seen since the end of 2020, and according to Wu, the behavior of large investors could indicate that the whales want to hedge their positions by buying put options.

In the pre-holiday rally, Ether fell about 4%. Cannot download all results.

Cryptonium Editors