High priced $32K Bitcoin options show some pro traders expect more upside

A month ago, one would be hard pressed to find any investor who would have expected a $32,000 Bitcoin (BTC) price for January. At the time, a 140% upside was needed from the $13,300 price on Oct. 30 and this seemed quite far fetched. 

Therefore, the January $32,000 BTC call (buy) options traded at Deribit for a meager $67, or 0.005 BTC in late October.

BTC $32,000 Jan. 2021 call option, in BTC. Source: Deribit

Fast forward to now, and the same call option peaked at $705. That’s an almost…

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