The Bitcoin options market on Deribit platform shows a surge in institutional confidence in Bitcoin
According to CoinDesk, the Bitcoin options market shows an increase in institutional confidence, with Deribit exchange data showing that institutions have increased their bullish bets through BTC options in the past week. Traders concentrated on buying call options with an exercise price of $110000 expiring in June/July, and established a calendar spread combination of $140000 call options expiring in September and $170000 call options expiring in December, suggesting that the market expects BTC prices to further rise to $140000. According to CoinDesk data, BTC broke through $104000 on May 9th, rebounding nearly 40% from its low point in early April, mainly driven by favorable trade agreements between the UK and the US and continued inflows of funds from spot ETFs. Ethereum performed strongly during the same period, with ETH prices rising 30% to $2411 within two days. Demand for Deribit's $2400 call option expiring in June and long-term price differential contracts betting on the $2600-2800 price range surged. Deribit pointed out that institutional position adjustments indicate that the market's bullish sentiment towards mainstream cryptocurrency assets is strengthening.