A $3.2 million butterfly option trade on Deribit bets Bitcoin will reach $95,000 by October 30, reflecting sophisticated institutional confidence in a price rise from current levels near $85,000. The butterfly spread, involving three strike prices, maximizes profit if Bitcoin settles exactly at $95,000, with losses capped at the premium paid. Rising open interest and call volume between $85,000 and $100,000 strikes suggest broad market optimism and potential for a gamma squeeze that could accelerate Bitcoin's price increase. If Bitcoin falls below $85,000, the trader's loss is limited to the premium, highlighting a defined-risk strategy.
Regarding the $3.2 million butterfly option trade targeting Bitcoin at $95,000 by the end of October, here is Pluang's market snapshot as of Sep 22, 2026 19:03 WIB: Among 50 major cryptocurrencies priced on Pluang, 26 rose and 22 fell today. Notable movers include XTZ (Tezos) at Rp6.016 with a 1-day change of -2.84% and a typical hold time of 99 days, BCH (Bitcoin Cash) at Rp4.854.653 with a 1-day change of +2.54% and a typical hold time of 68 days, and AAVE (Aave) at Rp2.535.840 with a 1-day change of -2.53% and a typical hold time of 105 days. Pluang order activity shows mixed buy/sell interest across these assets.
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