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Optimistic signals from the Bitcoin Deribit options market
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According to the report on May 9, the Bitcoin options market shows that institutional confidence has increased. Data from Deribit indicates that over the past week, institutions have increased their bullish bets through BTC options. Traders are focused on buying call options expiring in June/July with a strike price of $110,000, and establishing a calendar spread with call options at $140,000 expiring in September and call options at $170,000 expiring in December. This suggests the market anticipates the price of BTC will continue to rise to $140,000.
Data shows that BTC exceeded 104,000 USD on May 9, surging nearly 40% from the low point in early April. The main driver is the positive impact of the UK-US trade deal and continued capital inflow from spot ETFs. During this time, Ethereum also performed strongly, with the price of ETH rising 30% to 2,411 USD in two days.
Deribit has recorded a strong increase in demand for call options at $2,400 expiring in June, and long-term bullish contracts betting on the price range of $2,600 to $2,800. Deribit emphasizes that the position adjustments of institutions indicate a strengthening optimistic sentiment towards major cryptocurrencies. This provides market information and is not intended as investment advice.
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