CoinVoice has recently learned that according to data released by Deribit officials: in today's largest BTC bulk options transaction, a user bought a year-end $65,000 put option, totaling 425 BTC, and paid a premium of $2.108 million. If the price is lower than $60,000 (break-even point) at the time of delivery, it will be profitable.

It said that the current BTC price has risen to around $67,000, and the user is likely a miner or is currently pledging tokens to borrow stablecoins, and needs hedging to ensure the minimum selling price of $65,000. [Original link]