Ether Gathers Momentum With Massive $6K Price Bets Flooding In

Ethereum Traders Position for $6K Year-End Target With $7M Options Spread

Ethereum (ETH) traders are making strategic bets on a significant year-end rally, deploying more than $7 million in bullish options positions aimed at a $6,000 target by December 26.

Institutional block traders recently executed bull call spreads on ETH via the OTC platform Paradigm, later cleared on Deribit. The strategy involved buying $3,500 call options and simultaneously selling $6,000 calls, both with the same expiry date. A total of 30,000 contracts were traded across 10 block transactions.

This options play profits if ETH trades above $3,600 before expiration, with maximum gains realized at or above $6,000. Losses are limited to the initial premium paid—just over $7 million. However, because of the short $6,000 call, profits are capped beyond that price level.

Each contract represents one ETH, giving this spread considerable exposure. The scale and structure of the trades suggest high-conviction bullish sentiment among sophisticated market participants.

As of publishing time, ETH is trading around $2,510, having rebounded more than 80% since early April, when it dipped to lows near $1,390. This aggressive recovery has encouraged forward-looking bets on further upside.

Dan Magadini of Paradigm noted, “There’s no reason to call a top on ETH right now,” underscoring market optimism.

These bets highlight growing confidence in Ethereum’s longer-term strength as traders position for continued momentum heading into the final quarter of the year.