Ethereum Put/Call Ratio Jumps – Are Bearish Bets Building Up Ahead of Shappella Upgrade?

Ether’s Put/Call  

open interest ratio has seen a rapid jump from its end-of-March levels of around 0.37.

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The Ethereum network  

 will undergo a series of upgrades that will, first and foremost, enable the withdrawal of staked Ether tokens from the staking smart contract. 

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refers to a hard fork taking place on the Ethereum blockchain’s execution layer, while Capella is the name for the upgrade taking place on the consensus layer. 

The cryptocurrency recently pushed to the north of a key resistance area around $1,850 and is eyeing an imminent test of the $2,000 level. 

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