Traders Buy 3,100 Bitcoin Call Options in $70k–$80k Butterfly Trade for July 2026

Large traders executed a 3,100-contract long call butterfly block trade on Deribit this week for the July 31, 2026 expiry. com. Block trades are large, privately negotiated options transactions executed over-the-counter and then reported to the exchange.

Institutions use them to avoid moving the market with their size. The strategy generates its maximum profit if bitcoin expires right around $75,000. It caps risk outside the $70,000–$80,000 range. Deribit is the leading crypto options exchange.