Deribit Exchange Data Shows Institutional Shift: Ether Gains Favor Over Bitcoin in Derivatives Market

Institutional investors are increasingly favoring ether over bitcoin, as evidenced by derivatives market activity. While Bitcoin recently reached all-time highs above $110,000, ether has seen a 20% decline year-to-date despite Ethereum’s dominance in decentralized finance.

Deribit options data indicates a growing bullish bias for ETH. The 25-delta risk reversals for both BTC and ETH remain positive, but ether’s positioning suggests stronger upside potential. This divergence occurs as ethereum maintains its lead in DeFi and tokenization markets—sectors expected to drive institutional adoption.

The futures and options markets, typically dominated by sophisticated traders, now show ether accumulating strategic positioning. Analysts suggest this could signal a narrowing performance gap between the two largest cryptocurrencies.