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As the broader cryptocurrency market enters a consolidation phase, Ethereum (ETH) is defying the trend, rallying 5% to reclaim a key resistance level. Now trading above $2,600, ETH is drawing strong bullish momentum in the lead-up to the massive $2.4 billion options expiry set for May 30. Alongside this price jump, daily trading volume has surged 12.46% to $26.15 billion, signaling growing investor interest.
Bulls Dominate Ahead of Ethereum Options Expiry
According to data from CoinGlass, Ethereum’s options trading volume has climbed nearly 19% to over $1 billion, while open interest has reached $9 billion. The upcoming expiry on May 30 is pivotal—if ETH stays above $2,600, a staggering 97% of the $1.1 billion in put options will expire worthless. This scenario gives bulls a strategic advantage as they aim to drive prices even higher.
The current put-call ratio of 0.53 reflects bullish sentiment, with calls overwhelmingly outweighing puts across price ranges. Notably, at the $2,600–$2,700 range, call options dominate by a $555 million margin. If this bullish trend continues, ETH could break past the $2,700 mark for the first time in over three months.
Ethereum ETF Inflows Strengthen Market Sentiment
Supporting Ethereum’s bullish trajectory are rising inflows into spot Ethereum ETFs. On Wednesday alone, inflows totaled $84.6 million. BlackRock’s iShares Ethereum Trust (ETHA) led the way with $52.7 million, followed by Fidelity’s FETH with $25.7 million. These institutional investments underscore growing confidence in Ethereum’s long-term value.
ETHEREUM IS TRYING TO BREAKOUT NOW! pic.twitter.com/TdYmqUxyhj
— Merlijn The Trader (@MerlijnTrader) May 29, 2025
Technical Breakout Hints at $3,300 Target
On the technical side, Ethereum is forming a bullish flag-and-pole pattern, often a precursor to a breakout. If bulls manage to sustain momentum beyond the options expiry, analysts predict a potential rally toward $3,300—a level not seen since early 2024.
As Ethereum’s price, trading volume, options data, and ETF inflows align in bullish unison, all eyes are on the May 30 expiry. A strong performance could mark the beginning of a renewed uptrend for the second-largest cryptocurrency by market cap.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Ethereum on the Edge: Rising Risks and Open Interest Surge
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
