Deribit bulk options data: a user bought the end of the year $65,000 put options, a total of 425 BTC

On October 17, according to data released by Deribit's official staff: today's largest BTC options trade, a user bought $65,000 put options at the end of the year, a total of 425 BTC, paying $2.018 million in royalties, and the price was below $60,000 (breakeven point) at the time of delivery, which is a profit.

It said that with BTC currently hovering around $67,000, the user is likely a miner or is in the process of collateralizing tokens to lend out stablecoins, and needs to hedge to secure a minimum selling price of $65,000.