WHALE BETS $1M ON BITCOIN VOLATILITY
A trader just dropped $1 million on Deribit, betting big on Bitcoin with a long straddle of 100 call and put contracts at a $66K strike price, expiring November 29.
For this to pay off, BTC’s gotta break above $87K or dip below $53K by the end of the month; otherwise, that premium's a goner.
With all the hype around November options, everyone’s bracing for action, especially with the U.S. presidential election on November 5.
Source: CoinDesk & Mario Nawfal
