Institutions Bet on BTC Dump and ETH Pump as Options Data Reveals Contrarian Outlook

Bitcoin and Ethereum have both seen significant price movements in recent weeks, but institutional investors seem to be placing bets on opposite outcomes for the two assets. According to Deribit, institutions are betting on a BTC dump and an ETH pump simultaneously.

Deribit's data shows that over 81,700 BTC worth $6.40 billion in Bitcoin Options expire on August 28th at 4:00 AM ET. This includes $236 million in Call Options at $75K and $157 million in calls at $80K, with a max pain level of $68K.

Meanwhile, the Term Structure suggests calm near-term conditions but more uncertainty or big events further in the future. The reading for BTC is 42.66, indicating rising uncertainty.

Institutional investors like Metaplanet have been offloading their holdings, with 1,350 BTC worth $108 million deposited into Coinbase Prime, potentially to sell. On the other hand, institutions are betting that ETH will be above $3,000 by September 30th, with a notional value for calls at this level of $99 million and a max pain at $2,100.