TechFlow news, Lin Chen, Head of APAC Business at Deribit, posted on X that an investor paid a premium of $5.043 million to purchase call options with a strike price of $75,000 expiring at year-end, amounting to 925 BTC in total. This trade reflects a long-term bullish outlook, becoming profitable if the year-end price exceeds $81,000.
Current market prices have fallen below $56,000. Lin Chen personally does not recommend buying the dip at this moment, but points out that mining costs exceed $50,000 and the cost basis of U.S. spot ETFs is around $56,000, suggesting there are support levels in place, so there's no need to be overly anxious.
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