Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400

Bitcoin’s price continues to move up, with a little help from the U.S. Federal Reserve, while ether traders are hedging in the options market. Ether options bet below $400 Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday trading around $365 and climbing 0.28% in 24 hours as of 20:00 UTC (4:00 p.m. ET).

While 36% expect ether to be over $380, only 22% of options bets expect ether over $400 next week at the Sept. 25 expiration. Source: Skew William Purdy, an options trader and founder of analysis firm PurdyAlerts, said that ether’s implied volatility, the forecast of its price movements, has been higher than realized volatility, a measure of price movements from past behavior, since July.

Timeline of Ethereum, Ultracoin