A large number of institutional trades bet on BTC price to exceed $85000 by the end of November

Odaily Planet Daily News: As the US election approaches, CME's Bitcoin futures and options trading volume has increased, with a large number of institutional trades betting that Bitcoin prices will exceed $85000 by the end of November. Arbelos Markets CEO Joshua Lim said he is pleased to see institutional investors making such a large-scale layout on CME, which may be a good sign that as the asset class of the crypto derivatives market matures, its liquidity will continue to increase. Bitcoin is increasingly seen as an inflation hedge tool and an alternative to the US presidential election. The options market expects Bitcoin to fluctuate by 7% on the day of the US election, which is slightly lower compared to Bitcoin's beta coefficient for risk assets. （The Block）