BlackRock's Bitcoin spot ETF, IBIT, saw its open interest in options rise to $27.61 billion on Friday, surpassing Deribit's Bitcoin options market of $26.9 billion for the first time. According to Volmex data, IBIT call option positions primarily bet on a short-term Bitcoin price increase to $109,709, about 41% higher than the current level of approximately $77,400; while the Deribit market primarily anticipates Bitcoin to rise to approximately $106,000. Meanwhile, IBIT options have an average expiration date about two months longer than Deribit options, indicating that investors in the regulated US market are more inclined to hold long-term and have stronger bullish sentiment, further highlighting the accelerating institutionalization trend in the Bitcoin market. (CoinDesk)