Bitcoin (BTC) rally is gaining momentum, with the agency increasing its exposure to major cryptocurrencies through the Delibit BTC options market.
“Last week’s pan-out shows much greater indication of its institutional positioning against BTC,” Deribit said on X Friday, noting the bullish trend in BTC options.
The exchange includes a robust purchase of call options when the $110,000 strike expires in June and July, with a long position in the $140,000 strike call that expires at the end of September, and a short position in the $170,000 strike call call at the end of the year.
Demand for the $110,000 strike call shows expectations for a continuous price increase over the coming weeks, potentially increasing to at least $140,000.
Call options grant the buyer the rights, but do not provide the obligation to purchase the underlying assets at a given price before a specific date. Cole buyers are implicitly bullish in the market.
Exchange added that the bullish trend also includes expiration of July, with the July expiration date in May between $110,000 and $115,000.
According to Coindesk data, BTC broke over $104,000 on Thursday, showing a recovery of nearly 40%, under $75,000 since early April. The technical chart shows future profits.
Ethereum’s native token, Ethereum blockchain, rose above 30% to $2,411 over two days, marking a bullish breakout on the tech chart. The development sparks interest in playing bullish ETH on Delibit, with traders snapping their June expiry call for $2,400 and betting profits up to $2,600-$2,800.
