Dec 70k & 80k BTC calls are popular at Paradigm.
I saw one transaction of 500 BTC 80k calls for a premium of 0.081 BTC as part of a covered strategy against USD 6,890,000 in Perpetual Futures @ 47,550 USD. The deal was blocked on Deribit. Paradigm's trade flow is visible in our Institutional Liquidity Network Telegram chat and you can hit me up if you'd like a link to join.
Looking at the chart, 46k was a tinderbox. The market ran up through there yesterday and dipped back below only briefly. Old resistance becomes new support, so it's worth watching 46k going forward. The next big challenge is near our HOD with the 200-day moving average at 48,282. Feels a bit like we're establishing a new range between 46k & 52k. We'll see.
Several big names have RVSP'd to the bitcoin party of the last several days, and it's an impressive list that includes Goldman, Virtu, and Blackrock. A thundering pod of whales is migrating toward our ever-expanding bay in the ocean and we're still early. Very early.