Trader Sells $173M in Bitcoin Call Options, Betting BTC Stays Below $70K

BitcoinWorld Trader Sells $173M in Bitcoin Call Options, Betting BTC Stays Below $70K A large options trader has sold $173 million worth of Bitcoin call option contracts, positioning for the cryptocurrency to remain below the $70,000 strike price through September 25.

The trade, highlighted by on-chain analyst ai_9684xtpa, involves collecting a premium of $3.03 million if Bitcoin fails to exceed that level by expiry.

Understanding the Trade Call options give the buyer the right to purchase Bitcoin at a predetermined price—in this case, $70,000—before the contract expires.

By selling these calls, the trader is taking the opposite side, essentially betting that Bitcoin will not rally above that threshold in the coming weeks. If the price stays below $70,000, the options expire worthless, and the seller keeps the entire premium.