On Monday, a block trader placed a sizable bet on bitcoin's
BTC
87,046.15
+0.76%
$86,819.60
ongoing price rebound extending into year-end, anticipating a renewed move above $100,000 mark but stopping short of fresh record highs.
Bitcoin, the leading cryptocurrency by market value, has rebounded to around $88,000 from last week’s lows near $80,000. While the bounce is characterized by renewed expectations of a 25-basis-point Fed rate cut in December, the spot ETFs are yet to see renewed institutional buying. On Monday, the 11 spot-listed ETFs registered a net outflow of $151 million, according to data source SoSoValue.
Yet a trader opened a huge "call condor" option strategy on Monday, worth 20K BTC in notional ($1.76 billion), betting on a continued rally to levels above $100,000 by the year-end.