A bet on Deribit for a large-scale increase in price differential transactions rose to $72,000 at the end of the month

On 18 July, CoinDesk reported that during the week, the Deribit Exchange had a large-scale bitbitcoin price increase, with traders buying 20,000 margin increases of $70,000 at 31 July and 20,000 at the same date and $72,000 at the same time, for a total of 40,000 contracts with a nominal value of approximately $2.5 billion. The strategy is expected to moderate the price of bitcoin to between $70,000 and $72,000 in view of the price differentials. Jean-David Péquignot, Chief Commercial Officer of Deribit, said that he had seen a number of large-scale price differential transactions this week, which usually reflected the institutional configuration. The timing of the deal is a matter of concern: the 31 July expiry date coincides with two days after the Fed’s interest rate resolution of 29 July, implying that some of the large traders expect the Fed’s meeting to push the bitcoin up to $72,000. The futures of the Fund show a probability of maintaining interest rates at the July meeting of 75 to 80 per cent. Inflationary data in June showed a significant slowdown in price pressures as a result of the fall in oil prices, but the escalation of the American-Iraqi conflict this week led to a sharp rise in oil prices, with some analysts warning that inflation data had lagged behind the latest situation。