[A trader has cumulatively sold $173 million worth of BTC call options, betting that Bitcoin will not exceed $70,000 before September 25] BlockBeats news, August 4, according to on-chain analyst Ai Yi (@ai_9684xtpa), a trader has cumulatively sold 2,709 BTC call options expiring on September 25 with a strike price of $70,000, with a notional value of approximately $173 million. This is equivalent to betting that BTC will not rise more than 9.5% in the next 52 days. The trader has collected approximately $3.03 million in premiums from this transaction. If BTC's price does not exceed $70,000 upon expiration, the entire premium will be pocketed; however, if the price rises significantly, the trader may face corresponding losses. [Original link]