Bitcoin’s (BTC) Rally wins speed, with institutions that increase their exposure to the leading cryptocurrency through Deribit’s BTC option market.

“Panning beyond the past week shows a much greater sign of institutional positioning on BTC,” Deribit said on x Friday, noticing the Bullish currents in the BTC settings.

The exchange has seen a robust purchase of call options for $ 110,000 strike expiring in June and July, and calendar spreads involving a long position in $ 140,000 strike expiring at the end of September and a short position in $ 170,000 strike expiring at the end of the year.

Demand for strike call of $ 110,000 indicates expectations of a continued price increase in the coming weeks with the potential for an expanded increase to at least $ 140,000.

A call opportunity gives the buyer the right but not the obligation to buy the underlying asset at a predetermined price of or before a specified date. A call buyer is implicit Bullish on the market.

The exchange added that the bullish currents also included a roll over long positions in May expiry until July expires at strikes ranging from $ 110,000 to $ 115,000.

Coindesk data shows BTC topped $ 104,000 on Thursday, marking an almost 40% recovery from early April-slavers under $ 75,000, in the midst of optimism from the US-UK trading agreement and consistent influx to the Spot-ETFs. Technical charts point to several 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-Stage on dismissal, with dealers snapping up in the June outlet call to $ 2,400 and longer duration call voltage games up to $ 2,600- $ 2,800.