A $3.2 million Bitcoin butterfly options wager targets $95,000 by October’s close
On September 22, 2026, market observers turned their attention to a strikingly large options position that has been nicknamed the "bitcoin butterfly" trade. Valued at roughly $3.2 million, this structured bet is designed to profit if Bitcoin’s price settles near $95,000 by the end of October. While the trade’s mechanics may appear complex to the casual reader, the underlying logic is relatively s…
Sept. 22, 2026, 11:35 a.m.