A $3.2 million 'bitcoin butterfly' option trade bets on $95,000 by the end of October

60-second summary

A $3.2 million “bitcoin butterfly” options spread targets a $95,000 price by October’s end, combining calls at $90k, $95k and $100k to profit from a narrow move around the middle strike. Traders pay roughly $0.30 per contract, betting Bitcoin’s volatility will calm as it nears the $95k target, potentially stabilizing market sentiment if the trade succeeds.