PANews reported on October 31 that according to The Block, as the US election approaches, CME Bitcoin futures options trading volume has surged, and many institutional investors are betting that the price of Bitcoin will break through $85,000 before late November. Joshua Lim, CEO of Arbelos Markets, said that there are a large number of derivatives transactions to purchase Bitcoin options at an exercise price of $85,000, involving about 3,050 Bitcoins, with an option premium of $4.6 million. These large transactions show that institutional investors are bullish on Bitcoin, especially concerned about possible price fluctuations after the election.
Currently, the on-chain prediction market shows that Trump is ahead of Vice President Kamala Harris, with a bet on a 64.5% probability of winning. In addition, the weighted funding rate of Bitcoin perpetual contracts has reached a multi-month high, reflecting the strong bullish sentiment in the market.
