Derive options traders pile into Bitcoin calls ahead of US midterm elections

Calls clustered at $80,000 to $90,000 strikes on the onchain venue point to bullish bets tied to early November's vote Bitcoin traders looking for a pulse in the market may want to check the options desk at Derive . The decentralized platform, formerly known as Lyra, is seeing a wave of call buying aimed at strikes between $80,000 and $90,000. Traders appear to be positioning for a possible move higher around the US midterm elections in early November. There’s a second layer too. Bets implying Bitcoin will top $100,000 by Christmas have also been on the rise. The core of the activity is call options.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.