$3.2M BTC options block targets $95K by Oct. 30

A $3.2 million BTC butterfly spread designed to profit if Bitcoin reaches around $95,000 by Oct. 30 was traded today, according to Crypto Briefing. The butterfly spread is typically used when traders have no strong directional view and expect volatility to decline. The position delivers maximum profit at $95,000, while losses are capped at the $3.2 million premium paid if the price moves significantly away from that target. Crypto Briefing said BTC $95,000 call options expiring on Oct. 30 traded more than 22,000 contracts over the past 24 hours, with notional volume of about $1.9 billion. Call option volume and open interest also increased in the $85,000-$100,000 range.