Deribit: The timeline for Ethereum ETF has been advanced and certainty increased, now is an excellent opportunity to buy call options

Deribit released an analysis on the X platform stating that Federal Reserve Chairman Jerome Powell's speech after the CPI reinforced policy positions, leading to a renewed bearish sentiment that further depressed cryptocurrency prices. However, there is optimism about the timeline of Ethereum ETFs. Influential figures have provided favorable news regarding the approval of S1 ETH ETFs, advancing the timeline and bringing greater certainty. As a result, traders quickly bought call options ranging from $3500-3700 due for expiry on June 21st. Deribit stated that it is currently an excellent opportunity to buy call options as spot prices are low, there are many short positions, bullish skewness has been suppressed and implied volatility is lower than actual volatility.