A $68 million BTC price bet is targeting a surge to $90,000 after U.S. mid-term vote: Crypto Daily
Bitcoin and other major cryptocurrencies traded mostly flat, while Derive options activity pointed to stronger bullish expectations. One trader opened a position involving 800 Bitcoin $90,000 call contracts expiring November 6, with an estimated $68 million face value. The trade was partly financed by selling longer-dated calls, bringing in about $940,000 net. Derive’s implied probability of Bitcoin exceeding $100,000 by Christmas rose from 9.7% to 12%, while the chance of it falling below $70,000 declined from 15.6% to 11%. However, options skews on larger exchange Deribit showed demand for downside protection. Separately, Ether was nearing a break below its Ichimoku cloud and a bullish trendline, which could signal weakening demand if confirmed.
