Traders Place $2.5B Bitcoin Bull Call Spread Bet on Deribit Ahead of July 31 Expiry

BTC1.32%
According to CoinDesk, traders placed a large bull call spread bet on Deribit this week, buying 20,000 Bitcoin call options expiring July 31 at a $70,000 strike while simultaneously selling 20,000 calls at a $72,000 strike. The combined 40,000 contracts represent approximately $2.5 billion in notional value and signal expectations for a modest Bitcoin price increase toward the $70,000–$72,000 range. Deribit Chief Commercial Officer Jean-David Péquignot noted multiple large bull call spreads observed this week, typically reflecting institutional positioning.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments