Ethereum’s Ether cryptocurrency (ETH) could be set to surge in price, as traders are betting big on the asset reaching $6,000 this year through bull call spreads. ETH has crashed from the $4k valuation it had back in December 2024, but began a strong rebound this May. At press time, the Ethereum token is up 57% in the last 30 days alone. Traders are riding on the asset to continue its climb through the summer and hit a new ATH before the year is done.

Last week, block traders, typically institutions and large players, executed bull call spreads on ether. The traders picked the $3,500 call options while also shorting an equal number of calls at the $6,000 strike. These bets would expire on December 26, meaning Ethereum has until then to hit that number to reward the betters. Traders executed the strategy via the over-the-counter platform Paradigm, which was later listed on crypto exchange Deribit. Traders executed 30,000 contracts of the $3,500/$6,000 call spreads across 10 separate trades, spending just over $7 million in initial debt/cost.

There is no denying that the cryptocurrency market has bounced back in a big way this week. After months of stagnation, macroeconomic conditions and geopolitical developments saw some optimism arise. Ethereum and Bitcoin have led the charge for the rebound, and most analysts suggest the gains aren’t over.

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According to CoinCodex, the coming six months are going to be a rollercoaster ride for Ethereum. The firm revealed that October 2025 will be the best month for ETH. The asset is set to trade at $4,011 following a 61% rise from its current price level. This, however, is the case for this month alone. CoinCodex noted that in the months of June and July, ETH will trade at $2,030 and $2,779, respectively. August and September are slightly more bullish as ETH is expected to increase to a high of $3,307 and $3,269,

However, long-term holders have increased selling, which leaves the asset at risk for increased pressure. According to data from Glassnode, the liveliness metric for ETH has shown a stark increase. This signals that there is increased selling among this group of holders. The concern revolves around this jump in value being the first in three months. Specifically, it shows that investors are looking to take profit from the asset’s rise. That is a risky proposition for Ethereum, as it could see the asset’s surging value cease