PANews reported on May 9, citing CoinDesk, that the Bitcoin options market shows increased institutional confidence. Data from the Deribit exchange indicates that institutions have increased bullish bets through BTC options over the past week. Traders concentrated on buying call options expiring in June/July with a strike price of $110,000 and establishing a calendar spread combination of call options expiring in September at $140,000 and December 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 9, rebounding nearly 40% from the early April low, mainly driven by favorable UK-US trade agreements and continued capital inflows into spot ETFs.
Ethereum performed strongly during the same period, with the ETH price rising 30% to $2411 within two days. Demand for June expiration $2400 call options and long call spread contracts betting on $2600-$2800 on Deribit surged. Deribit noted that adjustments in institutional positions indicate that bullish sentiment in the market for mainstream crypto assets is strengthening.
