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A wallet bought $68M in Bitcoin call options betting on BTC rising above $90K by Nov 6.

Market News
27 Oct 2026, 04:28 WIB
Tokenpost
View Source
Bullish
A wallet bought $68M in Bitcoin call options betting on BTC rising above $90K by Nov 6.

On October 20, a wallet purchased 800 Bitcoin call options on Derive with a strike price of $90,000 and an expiration date of November 6, representing about $68 million in notional value. This trade is the largest open Bitcoin position on the Derive platform. The wallet also earned approximately $940,000 by selling calls. Market pricing now suggests a 12% chance that Bitcoin will exceed $100,000 before Christmas, up from 9.7%, indicating some traders expect Bitcoin to rise after the U.S. midterm elections.

Regarding the Bitcoin wallet's large call option purchase, here is Pluang's market snapshot as of Oct 27, 2026 08:21 WIB: Among 50 major cryptocurrencies priced on Pluang, 31 rose and 16 fell today. CAKE rose 4.28% to Rp39.033 with 65% buy orders and a typical hold time of 75 days, contrasting with BAT which fell 4.03% to Rp2.626 despite 95% buy orders and a longer hold time of 93 days. UNI increased 3.48% to Rp129.097 with 63% buy orders and a hold time of 65 days.

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