Bitcoin Sees Surge in Institutional Confidence, Deribit-Listed BTC Options Market Reveals

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By Omkar Godbole | Edited by Parikshit Mishra May 9, 2025, 9:19 a.m. Institutions increase BTC options exposure. (Peggy_Marco/Pixabay) What to know : Bitcoin's rally is driven by increased institutional exposure through Deribit's BTC options market. Robust buying of call options at high strike prices indicates expectations for continued price rises. Ether has seen a significant price increase, sparking interest in bullish options plays on Deribit. Bitcoin's (BTC) rally is gaining momentum, with institutions stepping up their exposure to the leading cryptocurrency through Deribit's BTC options market. "Panning out over just the last week shows a much bigger sign of institutional positioning on BTC," Deribit said on X Friday, noting the bullish flows in the BTC options. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto for Advisors Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The exchange has seen robust buying of call options at the $110,000 strike expiring in June and July and calendar spreads involving a long position in the $140,000 strike call expiring at the end of September and a short position in the $170,000 strike call expiring at the end of the year. The demand for the $110,000 strike call indicates expectations for a continued price rise in the coming weeks, with potential for an extended rise to at least $140,000. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market. The exchange added that the bullish flows also included a roll over of long positions in May expiry to July expiries at strikes ranging from $110,000 to $115,000. CoinDesk data show BTC topped $104,000 Thursday, marking a near 40% recovery from the early April lows under $75,000, amid optimism from the U.S.-U.K. trade deal and consistent inflows into the spot ETFs. Technical charts point to more gains ahead. Ether, the native token of Ethereum's blockchain, has risen over 30% to $2,411 in two days, marking a bullish breakout on technical charts. The development has triggered interest in bullish ETH plays on Deribit, with traders snapping up the June expiry calls at $2,400 and longer duration call spreads betting on gains up to $2,600-$2,800. Bitcoin Markets Options market analysis Top Stories Omkar Godbole Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. 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