Bitcoin Traders Buy $2.58M in 25SEP26 $70K Calls
The $70K strike sits above spot near $64.8K, putting the September 2026 expiry at the center of the next CPI-linked range test.
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The $70K strike sits above spot near $64.8K, putting the September 2026 expiry at the center of the next CPI-linked range test.
Two weekly expiries through Deribit knocked out the dealer-hedging excuse for Bitcoin's flat tape. The remaining big bet needs 9% upside by July 31, two days after a Fed meeting markets can't call.
Five straight days of spot BTC ETF inflows, the longest streak since May, are converging with long-term holder accumulation and large bull call spreads targeting $72K by month-end.
Bitcoin's 30-day implied volatility index is parked in a 34%-38% band that has preceded every major BTC slide since October, with the gauge now mean-reverting from below both its 30- and 200-day…
The flow lands on Deribit just two days before the Fed's July 29 decision, and its size plus strike precision signal institutional conviction that a macro tailwind breaks BTC out of its recent…
The structural cost is that options desks are still bidding for downside even as implied volatility keeps printing muted; that divergence between hedges and vol is what historically resolved…
Strategy’s $2.5B STRC backstop bought time but didn’t end the test, with whales now parking coins on the two largest venues and options desks piling into downside hedges.
The pseudonymous analyst who called October's $126K peak now sees a measured drop to $54–56K, with put options flow on major venues already pricing in a slide toward $52K.