PANews reported on May 9 that according to CoinDesk, the Bitcoin options market shows that institutional confidence has increased. Data from the Deribit exchange showed that institutions have increased their bullish bets through BTC options in the past week. Traders concentrated on buying call options with an expiration date of June/July and an exercise price of $110,000, and established a calendar spread combination of a $140,000 call option expiring in September and a $170,000 call option expiring in December, suggesting that the market expects the BTC price to further climb to $140,000. CoinDesk data shows that BTC broke through $104,000 on May 9, rebounding nearly 40% from its low point in early April, mainly driven by the positive impact of the UK-US trade agreement and continued inflows of funds from spot ETFs.
Ethereum performed strongly during the same period, with the price of ETH rising 30% to $2,411 in two days. Deribit saw a surge in demand for $2,400 call options expiring in June and long-term bullish spread contracts betting on the $2,600-2,800 price range. Deribit pointed out that the adjustment of institutional positions showed that the market's bullish sentiment on mainstream crypto assets was strengthening.
