According to ChainCatcher's report citing CoinDesk, the Bitcoin options market shows increased institutional confidence, with Deribit exchange data revealing that institutions have increased bullish bets on BTC options over the past week. Traders are concentrated on buying call options expiring in June/July with a strike price of $110,000, and establishing calendar spread combinations with September expiration call options at $140,000 and December expiration call options at $170,000, suggesting market expectations that BTC prices may further rise to $140,000.
CoinDesk data shows that BTC broke through $104,000 on May 9th, rebounding nearly 40% from its early April low point, primarily driven by favorable US-UK trade agreements and continuous ETF inflows.
Ethereum performed strongly during the same period, with ETH price rising 30% in two days to $2,411. Demand surged for June-expiring $2,400 call options and long-term bullish spread contracts at the $2,600-$2,800 price range on Deribit. Deribit noted that institutional position adjustments indicate strengthening bullish sentiment towards mainstream crypto assets.
