Trader bets Bitcoin will rise above $90K in November

KuCoinFlash

Release Time: 2026/10/27 01:35:34

BTC

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Summary

On-chain data shows a trader on Deriv purchased 800 Bitcoin call options with a $90,000 strike price, expiring November 6, for a total of $68 million. The same wallet sold call options expiring in March and October 2027, earning $940,000. This represents Deriv’s largest Bitcoin open position. Bitcoin breaking news highlights an increase in the implied probability of BTC reaching $100,000 before Christmas, rising to 12% from 9.7%. Some traders are positioning for a post-U.S. midterm rally.

BlockBeats report: On October 20, a wallet purchased 800 Bitcoin call options with a strike price of $90,000 expiring on November 6 on the decentralized options platform Derive, with a notional value of approximately $68 million, and net received about $940,000 by selling call options expiring in March 2027 and October 30.

Derive called this the platform's largest Bitcoin open interest; the market-implied probability of Bitcoin surpassing $100,000 before Christmas rose from 9.7% to 12%, indicating that some traders are betting on a Bitcoin rally following the U.S. midterm elections.

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