Bitcoin (BTC) started the new week with a recovery after falling to $80,000 last week. This rally, which has risen above $88,000, is being fueled by renewed expectations for a 25 basis point Fed rate cut in December, raising investor hopes for a bullish price. Accordingly, one blockchain investor has placed a large bet that Bitcoin's ongoing price recovery will last until the end of the year. The anonymous investor expected the $100,000 barrier to be breached again, but avoided reaching new record highs. According to Coindesk, this anonymous investor opened a $1.76 billion BTC call option targeting the $100,000-118,000 range. According to the data, this investor initiated a $1.76 billion call option containing 20,000 BTC, placing a bullish bet on continued growth to levels above $100,000 by the end of the year. The investor reportedly used a long-term call option (call condor) strategy that included four call options with the same expiration date but different expiration prices. The maturity prices were set at $100,000, $106,000, $112,000 and $118,000. Deribit wrote the following in his post: “Trader opened a 100k/106k/112k/118k call condor position with December 25 maturity. The signal is clear: there's a structural bullish view. BTC is expected to reach the $100,000-$118,000 region, not break out of it. Deribit said the investor's predictions that BTC will rise to the $100,000 to $118,000 range by the end of the year, but will not exceed the upper limit. *This is not investment advice. Continue Reading: A Big Whale in Bitcoin (BTC) Traded $1.7 Billion at These Price Levels! Or Does He Know Something?
