Bitcoin Rebounds to $78K, But Options Market Prices May Breakout Above $84K at Just 25%

According to BlockBeats, on May 2, Bitcoin rebounded above $78,000 as overall market risk appetite improved, yet derivatives market prices the probability of breaking above $84,000 by end of May at just 25%. Bitcoin call options expiring May 29 with a $84,000 strike price trade at 0.0136 BTC, approximately $1,063, reflecting cautious sentiment despite the cryptocurrency's 15% gain over the past 30 days.

In contrast, spot Bitcoin ETFs signal robust institutional demand, with net inflows of $1.3 billion in March and $2 billion in April, lifting total net assets above $100 billion. Additionally, major listed companies have significantly increased Bitcoin reserves over the past month, including MicroStrategy's 56,235 BTC and Metaplanet's 5,075 BTC, exceeding projected mining output for the next five months.