Ethereum’s recent price surge has left investors hoping for a more robust performance. Options traders, however, are fueling bullish sentiment with their strategy, anticipating an eye-catching new all-time high in ETH this year. According to Coindesk, these option sellers are focusing on a call spread technique, aiming for a target of $6,000 by year’s end. This strategy leverages the potential profits if ETH crosses the $6,000 mark before December 26th. Data from Deribit reveals institutional investors are employing a similar approach, buying $3,500 call options and selling $6,000 call options to amplify their returns. Crypto derivatives analyst Greg Magadini echoes this bullish view, suggesting Ethereum has further upside potential and may not reach its peak yet. He believes ETH is currently undervalued compared to other rising markets, and anticipates a major price recovery in the coming months. According to Magadini, the launch of a spot ETF with staking could be a significant catalyst for this rally. *Disclaimer: This is not investment advice.*