The ETH/BTC exchange rate has risen from Friday’s 0.038 to the current 0.0415, with market interest shifting from puts to calls, according to QCP Capital.
Experts highlighted that the implied volatility in contracts for the second-largest cryptocurrency by market capitalization exceeds that of Bitcoin by 9%. In their view, this indicates improved sentiment and potentially more significant price changes.
Analysts observed positive developments in the digital asset market following news from China.
On September 24, the local regulator announced a series of monetary policy relaxations, including rate cuts on several instruments and a reduction in reserve requirements.
This latest move has freed up approximately 1 trillion yuan (~$142 billion) for banks. The Chinese authorities will allocate half of this amount to support stocks.
Previously, former BitMEX CEO Arthur Hayes admitted he was wrong about the deterioration of the cryptocurrency market due to the strengthening yen. He allowed for the growth of altcoins, including the meme token sector.
Earlier, technical analyst and head of Factor LLC, Peter Brandt, predicted a fivefold increase in the price of digital gold relative to its physical counterpart by 2025.