A trader has sold a total of $173 million worth of BTC call options, betting that Bitcoin will not surpass $70,000 by September 25th.

BlockBeats News, August 4th, according to on-chain analyst Ai (@ai_9684xtpa), a trader has cumulatively sold 2709 contracts of BTC call options expiring on September 25th with a strike price of $70,000. The notional value is approximately $173 million, equivalent to a bet that BTC will not rise by more than 9.5% in the next 52 days.

The trader has received a total premium of about $3.03 million. If the price of BTC does not surpass $70,000 at expiry, the premium will be collected in full; however, if the price rises significantly, they may face corresponding losses.