A $3.2 million 'bitcoin butterfly' option trade bets on a BTC price of $95,000 by end-October: Crypto Daily
Summary
A bitcoin options trader paid $3.17 million for a long call butterfly targeting a price near $95,000 at the Oct. 30 expiry. The position has positive gross payoff between $90,000 and $100,000 and loses the premium outside that range. Other indicators point to stronger demand for call options, while analysts cited bitcoin’s move above long-term moving averages and its May high as bullish signals. The next major resistance level is near $98,000. Options markets also price the largest expected one-standard-deviation swing through Sept. 27 for XRP, followed by SOL, ether and bitcoin; these estimates indicate volatility, not direction.
