Bitcoin Trader Buys 500 Month-End $90,000/$95,000 Bull Call Spreads

A large trader bought 500 Bitcoin (BTC) bull call spreads expiring at month-end, using $90,000 and $95,000 strike prices as the monthly options settlement approaches. The two strike prices are $5,000 apart, and the spreads share a month-end expiration. More than a week remained before monthly settlement when the trade took place. The purchase stood out as an uncommon directional trade during a subdued stretch of the bull market. Much recent trading had centered on expectations that prices would remain within a range.