bullish

Bitcoin

As the US elections draw near, bets on Trump and Harris are increasing, while bullish bets on Bitcoin (BTC) and cryptocurrencies are also increasing.
At this point, demand for Bitcoin options is increasing for the post-election and end of November.
A hedge fund placed a $25 million bet on a sustained rally in BTC after the November 5 elections on decentralized derivatives exchange Derive, Coindesk reported.
Accordingly, this strategy of the institution will generate the most profit if BTC rises to $80,000 by the end of November.
Derive co-founder Nick Forster said in a statement that this was the largest on-chain options bet on the US election to date.
The unnamed hedge fund bought 100 call option contracts with an expiration price of $70,000, expiring on Nov. 29, while simultaneously selling 200 $80,000 call contracts and 100 $50,000 put contracts. Both the call and put options expire on Nov. 29. The hedge fund also placed a bet on Bitcoin created through EtherFi, depositing eBTC as collateral and ensuring it would earn passive returns on it.
<blockquote>
 “This $25 million options transaction is a milestone for on-chain options trading and something that could have significant post-election implications.
 The hedge fund implemented a unique strategy with sold puts, bought calls, and eBTC collateral.
 If BTC reaches $80,000 by November 29, he has the potential to earn $1,020,000 from these trades, excluding earnings from eBTC collateral.
 “Furthermore, this $25 million transaction is a prime example of how on-chain options provide scalable, uncorrelated returns for any on-chain asset.”
</blockquote>
Bitcoin continues to trade at $67,020 at the time of writing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/an-institution-made-the-largest-bitcoin-btc-options-trade-tied-to-the-us-election-expecting-this-price-by-the-end-of-november/" rel="noopener noreferrer nofollow">An Institution Made the Largest Bitcoin (BTC) Options Trade Tied to the US Election! "Expecting This Price by the End of November!"</a>

An Institution Made the Largest Bitcoin (BTC) Options Trade Tied to the US Election! "Expecting This Price by the End of November!"

Bitcoin Sistemi EN

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