Investors wary as Shanghai upgrade looms, options market signals negative sentiment
- The options market is finally starting to show the price of the Ethereum Shanghai upgrade, supposedly scheduled for April 12th.
- Option 25 front end (1 week to 1 month) delta skew suggests bearish sentiment, with puts starting to dominate calls.
- Additionally, looking at the options open interest by strike price, we see a staggering put (50,000 ETH) demanding $1,600 on April 7th.
- However, the options market was slightly bullish on April 28, with a 90,000 ETH call at $2,000.
- Negative sentiment towards Ethereum in the short term due to possible “unlocking”.
Post Investors wary of Shanghai upgrade looming, options market shows negative sentiment first emerging on CryptoSlate.