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Bitcoin holds steady amid a new record in institutional derivatives
Bitcoin rose 1.2% to $78,263.1 as of 07:54 GMT on Sunday, despite worsening prospects for a peace settlement between the U.S. and Iran: Trump withdrew his envoys from Islamabad after Tehran stated that Washington must lift its port blockade before negotiations can begin.
Traders appear to view geopolitical risks as short-term noise while maintaining focus on fundamental changes in the institutional infrastructure of digital assets.
A turning point for institutional derivatives
The most significant development this week is the rapid institutionalization of the Bitcoin market.
Data from Volmex shows that open interest in options linked to BlackRock’s iShares Bitcoin Trust (IBIT) exceeded $27.6 billion, officially surpassing Bitcoin options volume on the long-established offshore exchange Deribit.
This milestone highlights a fundamental shift: the regulated U.S. domestic market no longer lags behind global offshore venues in importance.
Institutional allocators noted that the depth and liquidity of the IBIT options market provide an important tool for sophisticated hedging and income strategies, such as covered calls.
Positioning remains bullish, with call option activity pointing to long-term targets equivalent to Bitcoin trading around $110,000, while the growth of IBIT effectively democratizes access to professional leverage for regulated investors.
Analysts view this maturity as a clear positive for price discovery, providing a more stable foundation for the asset class.
Regulatory hurdles and outlook
As institutional adoption accelerates, retail-focused infrastructure is tightening.
Tennessee became the second U.S. state after Indiana to impose a full ban on cryptocurrency ATMs after Governor Bill Lee signed a law requiring all kiosks to be dismantled or decommissioned by July 1, 2026.
Lawmakers cited an FBI report from 2025 showing $142 million in fraud-related losses in the state as the primary catalyst for the ban.
As states increasingly crack down on high-risk access points, the broader trend remains clear: a shift toward regulated, transparent, and institutional participation, even as legacy and less secure gateways are phased out.
Crypto prices today: altcoins rise
Most altcoins also traded higher on Sunday morning.
The world’s second-largest cryptocurrency, Ethereum, fell 0.15% to $2,314.50.
The third-largest cryptocurrency, XRP, dropped 1.00% to $1.4214.
Cardano and Solana declined by 0.87% and 0.25%, respectively.
Among meme tokens, Dogecoin also fell by 0.89%.
