According to Deribit, three large option combinations with a total notional size of 20,000 BTC were traded through Paradigm on November 25. Traders bought 100k/106k/112k/118k call options expiring in December 2025, which are typical structured long positions. The market signal is clear: bullish on Bitcoin, but the target range is between $100,000 and $118,000, rather than betting on a violent breakout.
Deribit: A large BTC options portfolio was traded on November 25th, with bullish targets focused on the $100,000 to $118,000 range.
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