TechFlow news, October 31 — According to The Block, as the U.S. election approaches, trading volume in CME Bitcoin futures options has surged, with many institutional investors betting that Bitcoin's price will surpass $85,000 by late November. Joshua Lim, CEO of Arbelos Markets, said there has been substantial derivatives activity involving Bitcoin options purchased at a strike price of $85,000, covering approximately 3,050 BTC and carrying premiums totaling $4.6 million. These large-scale trades indicate strong bullish sentiment among institutional investors, particularly regarding potential price volatility following the election.
Currently, on-chain prediction markets show Donald Trump leading Vice President Kamala Harris, with a 64.5% probability assigned to his victory. Additionally, the weighted funding rate for Bitcoin perpetual contracts has reached a multi-month high, reflecting intense bullish momentum in the market.
