Large volume of BTC options were sold on Deribit, including both call and put options for the end of September at 65,000
Deribit's Asia-Pacific business head, LinChen, posted on platform X stating that today's largest BTC block options: a user sold 65,000 bullish and bearish options at the end of September, totaling 300 BTC, earning a premium of $3.408 million. Shorting volatility, the price profit range is $55,000 - $78,000 with a coin-based return reaching 16.45%. It is estimated that they believe the price will hover within this range repeatedly; expectations for September rate cuts are in place and it won't fall before no rate cut; however there are no new events to drive major market trends in at least the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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