TechFlow reported on March 14 that according to Lin, Head of APAC Business at Deribit, the Bitcoin options market saw a significant trade today: a user paid $2.443 million to purchase put options at 83,000 and call options at 85,000 expiring at the end of March, amounting to 425 BTC on one side.
Lin analyzed that the trader is betting on high volatility in BTC price, expecting profits if the settlement price falls below $77,000 or rises above $92,000.
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