{"id":622,"date":"2026-10-26T15:17:48","date_gmt":"2026-10-26T15:17:48","guid":{"rendered":"https:\/\/1stblock.info\/?p=622"},"modified":"2026-10-26T15:17:49","modified_gmt":"2026-10-26T15:17:49","slug":"single-trader-stakes-68m-on-bitcoin-topping-90k-after-midterms","status":"publish","type":"post","link":"https:\/\/1stblock.info\/?p=622","title":{"rendered":"Single trader stakes $68M on bitcoin topping $90K after midterms"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A single wallet on decentralized options platform Derive bought 800 contracts of <strong>$90,000<\/strong> bitcoin calls expiring Nov. 6, a position worth approximately <strong>$68 million<\/strong> in face value and the largest open bitcoin position on the venue, <em>the platform told CoinDesk<\/em>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The trade was executed on Oct. 20, with each contract representing one <strong>BTC<\/strong>. The expiry lands just days after the U.S. midterm elections in early November, positioning the buyer for a post-vote breakout. The position was not bought outright: the wallet sold 400 contracts of $100,000 calls expiring in March 2027 and another 400 contracts of $90,000 calls expiring Oct. 30, collecting about <strong>$940,000<\/strong> net after financing the purchase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sentiment on Derive has tilted modestly higher. The platform\u2019s market-implied probability of bitcoin exceeding $100,000 by Christmas rose to <strong>12%<\/strong> from 9.7% a week earlier, while the implied chance of a drop below $70,000 fell to 11% from 15.6%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The broader market tells a more cautious story. Bitcoin slipped under $80,000 on Monday as traders de-risked ahead of this week\u2019s Fed meeting, after posting three consecutive weekly losses for the first time since May. On Deribit, front-end 25-delta skews for both bitcoin and ether remain negative, meaning puts are priced above calls and traders are paying up for downside protection. U.S. spot bitcoin ETFs also swung sharply last week, with $635.5 million exiting on Thursday in the heaviest single-session withdrawal since June, though the week closed net positive.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Scale matters when reading the trade. Derive is the largest options DEX by notional volume and open interest per DefiLlama, but it remains much smaller than Deribit, which records several billion dollars in daily volume and open interest. A single wallet\u2019s conviction on Derive is a notable data point, not a read on aggregate positioning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the Fed decision, the midterm vote and the Nov. 6 expiry falling within roughly ten days, the window is set up for elevated volatility in either direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A single wallet on decentralized options platform Derive bought 800 contracts of $90,000 bitcoin calls expiring Nov. 6,<\/p>\n","protected":false},"author":2,"featured_media":623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=622"}],"version-history":[{"count":1,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/622\/revisions"}],"predecessor-version":[{"id":624,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/622\/revisions\/624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/media\/623"}],"wp:attachment":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}