Bitcoin · Federal Reserve (FED) · CryptoSlate
Bitcoin gets $2.5 billion target for $72,000 by August as unknown trader bets big on Fed rally
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Deribit’s July 31 options board shows more than 20,000 Bitcoin call contracts open at both the $70,000 and $72,000 strikes.
Key facts
- In two other outlooks, Standard Chartered retained a $100,000 end-2026 target, while Bernstein retained an explicitly ambitious $150,000 year-end target
- Citi cut its 12-month Bitcoin target from $112,000 to $82,000 and set a $53,000 bear case conditioned on recession and continued ETF outflows
- Deribit’s July 31 options board shows more than 20,000 Bitcoin call contracts open at both the $70,000 and $72,000 strikes
- Deribit Chief Commercial Officer Jean-David Péquignot told CoinDesk that one large block involved buying 20,000 July 31 calls at $70,000 and selling the same number at $72,000
Summary
01 Deribit’s July 31 board shows Bitcoin’s largest call clusters at $70,000 and $72,000, alongside a reported 20,000-by-20,000 spread. 02 That setup implies about $2.5 billion in gross notional and lands two days after the Fed’s next policy decision. 03 Bitcoin was near $64,289, so the trade still needs a sharp move through $69,000 and uneven ETF flows before expiry. The two strikes represent the largest call concentrations for that expiry, with roughly 27,000 contracts at $70,000 and 21,000 at $72,000, according to the exchange's data as of press time.