A $68 million bitcoin bet is targeting a post-midterm election breakout to $90,000
Source: CoinDesk ·
From the source
Your day-ahead look for Oct. 26, 2026 This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here , if you haven't already. Bitcoin BTC $84,459.46 is trading pretty much where it was on Saturday, around $80,000, offering little news on the price front. Most of the other major cryptocurrencies, including ether ETH $2,490.55 , XRP (XRP), solana (SOL) and dogecoin DOGE $0.08295 , BNB BNB $748.57 , are equally listless. In contrast, options trading on decentralized platform Derive is offering some excitement. The platform told CoinDesk that one trader took $68 million bet that BTC's spot price would climb above $90,000 just after U.S. mid-term elections in early November. There has also been an increase in bets implying market prices will top $100,000 by Christmas. First, the $68 million trade. On Oct. 20, a single wallet bought 800 contracts of $90,000 call options expiring on Nov. 6 on Derive. Each contract represents one BTC. “That's approximately $68 million in face value at…