ETH Traders Turn Bold as $6,500 Calls Take Over Deribit

The crypto derivatives market heats up again as traders chase higher ETH levels. Sentiment shifts fast in this market, and the ETH price outlook changes with every major options build-up. Deribit now shows a powerful wave of bullish bets, even as ETH trades far below the aggressive strike levels that traders choose. Market participants ignore the recent weakness and build strong upside exposure.

The latest open interest build shows bold conviction. ETH saw a tough quarter with a sharp 26 percent drop, yet traders refuse to slow down. They expect a sharp recovery and place capital behind that belief. The ETH price outlook strengthens as fresh call buyers step in at key levels. Their trades show confidence in a strong rebound, not hesitation.

This shift feels important because traders rarely show such strong demand for far-out call strikes after a quarterly decline. Deribit traders now see an opportunity they do not want to miss. They choose levels between $4,000 and $6,500 and build heavy exposure. This behavior signals a major change in crypto market sentiment and keeps the ETH price outlook in focus.

🚨DERIBIT TRADERS CALL FOR $6,500 ETH!

The $6.5K strike leads with $380 MILLION in open interest, with $4K, $5.5K and $6K calls also active. Despite a 26% quarterly drop, BIG REBOUND bets are in. pic.twitter.com/2wslBBrBlx

— Coin Bureau (@coinbureau) December 3, 2025

$6,500 Calls Take the Lead with Massive Open Interest

Deribit data shows the $6,500 strike leads all call positions. Traders hold more than $380 million in open interest at this level. The size of this cluster shows strong belief in long-term upside. The interest grows each week, and traders treat this strike as a target rather than a far stretch. This level now drives discussions around Ethereum call options and market recovery potential.

The strong open interest at $6,500 also signals that traders expect volatility soon. They want exposure before ETH begins any sharp move. Ethereum call options often act like early indicators of sentiment shifts, and this wave confirms that traders prepare for a turnaround. This build-up supports the improving ETH price outlook and strengthens the narrative for an upcoming rally.

$4K, $5.5K and $6K Calls Gain Fast Momentum

The rally expectations do not stop at the top strike. Traders also boost open interest at $4,000, $5,500, and $6,000. These strikes now form a cluster that highlights rising confidence. Many traders choose these levels because they want solid risk-reward balance. These Ethereum call options now shape the broader market structure as the cluster attracts more flow.

This multi-strike build shows that traders want exposure across short-term and mid-term horizons. Their strategy remains clear. They expect a strong rebound after a difficult quarter. They want to catch the entire move instead of just the final breakout. The ETH price outlook continues to improve because this cluster forms a strong foundation for a recovery.

Traders Shrug Off the 26% Quarterly Drop

ETH dropped nearly 26 percent this quarter, but traders refuse to step back. They treat the dip as an entry point rather than a warning sign. This behavior shows strong conviction. Crypto market sentiment improves quickly when traders step in during weakness, and that process now begins again.

Traders often increase call exposure during market fear because they want leverage at lower premium costs. They take advantage of this environment and build large positions. This helps the ETH price outlook strengthen even before price momentum returns. This pattern often leads to powerful upside moves once the spot market reacts.

The Bottom Line

Deribit traders send a clear message. They expect a strong ETH recovery despite recent weakness. Massive open interest builds at $6,500 and gains momentum at other strikes. Traders treat dips as opportunities and build long-term exposure. This behavior strengthens the broader ETH price outlook and highlights a major shift in crypto market sentiment.