Bitcoin’s rally is gaining serious traction — and the options market is lighting up with signs that institutions are getting bolder.
Deribit, the leading crypto options exchange, reported a sharp rise in bullish positioning over the past week, pointing to growing confidence from institutional players. “Stepping back to view the past week shows a notable shift in institutional BTC activity,” the exchange posted Friday on X.
Traders have been snapping up call options at the $110,000 strike for June and July expiries, suggesting expectations that Bitcoin’s price will continue its upward trajectory. More complex strategies are also in play: calendar spreads involving long calls at $140,000 for September and short calls at $170,000 for December indicate investors are betting on a mid-term surge before potential stabilization later in the year.
These moves reflect a strong conviction that Bitcoin’s price could stretch toward or beyond $140,000 in the coming months.
Call options, commonly used to express bullish sentiment, give holders the right — but not the obligation — to buy Bitcoin at a specific price by a set date. Deribit also noted rollover activity, with traders extending long May positions into July, focusing on strikes in the $110,000–$115,000 range.
Bitcoin recently pushed past $104,000, according to CoinDesk — a nearly 40% rebound from April’s sub-$75,000 lows — driven by enthusiasm around a U.S.-U.K. trade pact and continued spot ETF inflows. Technical charts indicate room for further upside.
Meanwhile, Ethereum is making waves of its own. ETH jumped more than 30% in just two days, reaching $2,411, triggering bullish flows into Deribit’s ETH options. Traders are targeting June calls at $2,400 and initiating spreads aimed at capturing gains up to $2,800.
