Odaily said 25,766 BTC call options traded, led by nearly 10,000 end-of-month $70,000/$72,000 long call bull spreads that pointed to cautious late-month optimism.
Bitcoin block call option activity jumped on July 16, with 25,766 BTC call options changing hands for a notional value of about $1.65 billion, Odaily reported. The busiest trades were nearly 10,000 end-of-month $70,000/$72,000 long call bull spreads, an options structure that seeks upside within a defined range at lower cost than an outright call purchase. Analysis said the roughly 10% out-of-the-money positioning pointed to optimism for late-month price action, while the spread structure suggested tentative dip-buying rather than a more aggressive directional bet.