MiCA Squeeze Hits ETH Sentiment as Polymarket Odds for $1,700 Dip Rise to 43.5%

EU MiCA enforcement is tightening distribution for unlicensed crypto firms, pressuring stablecoin and wallet access across Europe and shifting sentiment against ETH. Earlier on the same day, options open interest had climbed 4.3% to $4.33 billion with a modest call bias and heavy volume in $1,800 July 7 calls. Traders on Polymarket have now priced a 43.5% chance of ETH falling to $1,700 this week, with $141,107 in matched volume, while upside strikes such as $1,900 and $2,000 remain far less favored at 25% and 3.5%.