Bitcoin's rally is gaining momentum due to increased institutional exposure in Deribit's BTC options market. In the past week, significant bullish flows have been noted, particularly through robust buying of call options at the $110,000 strike price, set to expire in June and July. Furthermore, calendar spreads featuring long positions in $140,000 strike calls and short positions in $170,000 strike calls indicate expectations for a price rise at least towards $140,000. The BTC price surged past $104,000, representing a nearly 40% recovery from early April lows, fueled by optimism from a U.S.-U.K. trade deal and steady inflows into spot ETFs. Meanwhile, Ether has also seen a notable increase of over 30%, which has subsequently sparked interest in bullish options for ETH, with traders actively investing in call options for June expiries. These developments underscore a growing confidence among institutions in the cryptocurrency market.

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