A significant $3.2 million butterfly option trade on bitcoin has been placed, betting that the cryptocurrency will reach $95,000 by the end of October, according to CoinDesk. This type of options strategy typically involves multiple strike prices and is used to express a targeted price move within a specific timeframe.
Such a sizable bet reflects growing market interest and confidence in bitcoin’s potential rally in the coming months. The butterfly option structure suggests that the trader anticipates bitcoin’s price will hover near the $95,000 level rather than making a broad directional bet.
For Japanese investors, this move comes as local markets continue to show increasing appetite for crypto derivatives, highlighting evolving strategies in managing risk and exposure amid global digital asset trends.