TechFlow News, May 2 — According to Cointelegraph, Bitcoin reclaimed the $78,000 level on Friday, posting a 15% gain over the past 30 days. However, derivatives markets remain cautious about further upside. Deribit data shows that the BTC call option expiring May 29 with a strike price of $84,000 traded at 0.0136 BTC (approximately $1,063), implying only a 25% probability that Bitcoin will rise 8% to that level by the end of May.
The 30-day delta skew indicator for options has remained above the neutral threshold of 6% over the past month, reflecting rising put-option premiums and heightened demand for downside protection. While BTC monthly futures basis rates typically trade at a 4%–8% premium to spot, they have weakened over the past 30 days—partly due to Bitcoin’s 12% decline year-to-date through early 2026.
Despite this caution in derivatives markets, institutional spot demand remains robust. U.S. spot Bitcoin ETFs recorded $1.3 billion in net inflows in March and added another $2 billion in April, pushing total assets under management beyond $100 billion. Public companies significantly increased BTC holdings over the past 30 days: MicroStrategy (MSTR) acquired 56,235 BTC; Metaplanet (3350) bought 5,075 BTC; and Strive (ASST) purchased 929 BTC—collectively absorbing an amount equivalent to five months’ worth of Bitcoin mining supply.
