Analysis: Derivative data shows that traders expect the price of ETH may rise before the Pectra upgrade in April

ChainCatcher reports, according to The Block, that derivatives data shows investor optimism is heating up again. Traders are preparing for a rebound in the price of ETH before the April Pectra upgrade, while Solana faces downward price pressure.

Nick Forster, founder of Derive.xyz, said that ETH's seven-day implied volatility (IV) is 66% (equivalent to six months' IV), which is significantly lower than Bitcoin's IV. He predicts a 30% chance of Ethereum breaking through $3,000 by the end of this quarter, higher than last week's 28%.