Deribit's Bitcoin call options are concentrated at $115K and $120K, with long-term targets aiming at $140K and $150K. In the last hour, short positions were liquidated for over $500 million, and total liquidations in the past 12 hours reached $760 million, as institutions aggressively bought, driving the price up.

Bitcoin has broken through $116K, and although volatility has decreased, the long-term bullish trend is evident. History tells us that after every major bear market, the bottom will rise, and institutional confidence is gradually increasing.

A Coinbase survey shows that one-third of institutions are increasing their holdings in crypto assets this year, with over 60% planning to continue increasing their positions in the next three years. A KPMG report also points out that more and more financial companies are launching crypto products, and market normalization is driving explosive demand.

The emergence of compliant tools like spot Bitcoin ETFs is facilitating institutional entry, significantly enhancing market maturity. The foundation of the bull market is steadily being solidified! #山寨季何时到来