Greeks.live Researcher: Ethereum Drives Altcoin Surge, Significantly Boosting Market Sentiment, Option Market FOMO Evident

BlockBeats News, July 18th, Greek.live researcher Adam posted on social media, stating that under the current market conditions, ETH has taken the baton of the bull market, surging past $3650, while Bitcoin has held steady around its historical high of $120,000, with market sentiment shifting significantly towards optimism. ETH has led the entire altcoin market to rebound, and the monotonous upward trend without a pullback has greatly encouraged market participants.

This week saw nearly $6 billion in options expirations, accounting for over 10% of the current total open interest. Looking at the key options data, in terms of implied volatility, BTC's IV has slightly rebounded, with the IV of major expirations all maintaining around 40%, while ETH's IV has surged significantly, reaching 70% in major expirations. However, both the upside and downside potential for ETH are considerable, so sellers have not yet found an entry point. There have been many large bullish trades in the past two weeks, with over 30% of the volume on most days being large bullish bets on Bitcoin. The options market is starting to show some FOMO sentiment, and institutional investors are also beginning to feel uneasy.