The Bitcoin Rally (BTC) is growing, institutions intensifying their exposure to the main cryptocurrency via the Deribit BTC options market.
“The end of last week shows a much more important sign of institutional positioning on the BTC,” said Deribit to X on Friday, noting bull flows in the BTC options.
The exchange experienced solid purchase purchase options for $ 110,000 strikes expired in June and July and calendar differences involving a long position in the $ 140,000 strike appeared at the end of September and a short position in the $ 170,000 strike appeared at the end of the year.
The demand for the strike call of $ 110,000 indicates expectations for a continuous price increase in the coming weeks, with a potential for an extended increase to at least $ 140,000.
A purchase option gives the buyer the right but not the obligation to buy the underlying assets at a predetermined price at the latest at a specific date. A call buyer is implicitly optimistic on the market.
The exchange added that bullish flows also included a jet of long positions on the expiration from May to July to strikes ranging from $ 110,000 to $ 115,000.
Coindesk data show that BTC exceeded $ 104,000 on Thursday, marking a resumption of almost 40% compared to the stockings of less than $ 75,000 in early April, in the midst of the optimism of the US-UK trade agreement and coherent entries in the ETF. The technical cards indicate more to come to come.
Ether, the native token of Ethereum’s blockchain, increased by more than 30% to $ 2,411 in two days, marking an updated break on technical graphics. Development has aroused interest in the Haussis Ethics Games on Denibute, traders recruiting expiration calls from June to $ 2,400 and longer call deviations betting on gains up to $ 2,600 to $ 2,800.
