The swift rise in Bitcoin (BTC)
$103,458 prices recently has captured significant attention from institutional investors, bringing their strategies to the forefront. Notably, there has been a marked increase in options volume recorded at Deribit, showcasing institutional interest in long-term positioning. This trend indicates that investors expect new price peaks in the upcoming months, with significant demands for call options at the $110,000 and $140,000 marks. Similarly, increased interest in Ethereum (ETH) 
$2,370 options reflects the optimistic sentiment in the market.
Rising Institutional Interest in Deribit Options
Last week, there was substantial interest in call options with a $110,000 strike price for June and July expirations at Deribit. Investors seized this opportunity, betting that Bitcoin prices would reach at least that level in the short term. Subsequently, call and put spread strategies for $140,000 by September’s end and for $170,000 by year-end attracted remarkable trading volume.
Deribit officials noted a shift from May’s long positions to July expirations. The concentration in the $110,000 to $115,000 range sparked comments of “preparation for higher targets” in the market. This mobilization suggests that institutional investors are actively reassessing their risk management strategies.
Increasing Ethereum Option Positions
On the Ethereum front, there was a significant surge of over 30% in just the last two days. Growing interest in June-expiry call options at the $2,400 level on Deribit shows investors’ confidence in Ethereum’s upward trend. Looking further ahead, positions were also opened targeting the $2,600–$2,800 range.
Technical analysis indicates that trading volume and Total Value Locked (TVL) increases following Ethereum’s Pectra update have supported its price rise. Institutional investors see this rise as a chance to diversify their strategies in the options market.
The overall market conditions remain volatile, painting a picture that is cautious yet optimistic. Investors and market watchers continue to monitor how these factors and strategies will play out in the near future.
