#BTC ATH #XRP ATH #BNB ATH Next ATH is.... #SOL #ETH Outstanding Performance: ETH Leads the Market In recent weeks, Ethereum has shown remarkable strength. Last week, the price of ETH increased by over 20%, an impressive figure compared to Bitcoin's modest growth. This outperformance is clearly reflected in the ETH/BTC exchange rate chart, which has broken above a three-month accumulation zone. This is an important technical signal, often seen as an indication of capital rotation from Bitcoin to leading altcoins, with Ethereum being the primary beneficiary. In terms of price, ETH has successfully reclaimed the important psychological level of $3,000 and quickly moved to trade around the $3,700 - $3,800 range, the highest since early 2025. This optimism is strongly reflected in the derivatives market, where traders are making significant bets on ETH's next upward momentum. Implied Volatility for short-term ETH options has surged from 54% to 71%, indicating that the market expects significant price movements in a positive direction. The options skew is tilted 5% towards out-of-the-money (OTM) calls, a clear sign that the demand for hedging against price increases is greater than the demand for hedging against price decreases. Furthermore, the funding rates on perpetual futures exchanges remain positive, and the futures prices are higher than spot prices (contango), indicating that the buying side is overwhelmingly dominant. Notably, the total open interest for call options is currently double that of put options, a clear testament to the bullish sentiment prevailing in the ETH derivatives market. A full market overview report with insights up to the end of 2025 and early 2026 will be available in a few days. By @AlexNguyen1881