Bitcoin and ethereum prices rose to levels last seen in January, according to Tuesday's crypto price roundup. The rally coincides with a notable derivatives bet: a $3.2 million options trade, structured as a so-called "bitcoin butterfly," is wagering that bitcoin reaches $95,000 by the end of October.
The scale of the options position — $3.2 million committed to a specific price target and date — suggests at least some traders see room for bitcoin to keep climbing over the next five weeks, rather than simply holding current levels.
What remains unresolved is whether the rally reflects a broader shift in risk appetite or narrower positioning tied to this specific options structure. The wire items reviewed don't specify the current bitcoin price in dollar terms, only that it has returned to January levels.