Institutional traders are betting that Bitcoin will surge to $79,300 by the end of November. This bullish sentiment is evident in recent trading activities on the Chicago Mercantile Exchange (CME), where Bitcoin options have experienced some of their highest trading volumes ahead of the US presidential election. Bitcoin To Rise Above $79,300? Joshua Lim, co-founder of Arbelos Markets—a trading firm providing liquidity across cryptocurrency derivatives markets—shared insights on X about these notable trades. “CME Bitcoin options just experienced some of its largest volume days ever, ahead of the US election,” Lim stated. He highlighted two substantial transactions that occurred in the past week. On Friday the 25th, traders purchased 1,875 Bitcoin units of the 29-November $70,000 strike calls. In options trading, a call option gives the buyer the right, but not the obligation, to purchase an asset at a specified strike price before the option expires. In this case, the strike price is $70,000, meaning the buyers are betting that Bitcoin will exceed this price by the end of November. Lim detailed that at the time of the trade, “ ..
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