Massive bitcoin call spreads target $72,000 by month end, right when the Fed meets

Large traders have bought $2.5 billion in notional bitcoin call spreads on Deribit, targeting $72,000 by July 31, around the time of the Fed's interest rate decision. The trade, a bull call spread, suggests confidence in bitcoin's recent bounce and potential for further gains. Deribit's Jean-David Péquignot noted the significant options flow.