A large number of short-term call options are traded, and the butterfly strategy is favored by big players

According to the research and analysis of Greeks.live data: Bitcoin has broken through $66,000, approaching a new all-time high, with a large volume of bullish options trading concentrated in the short term.
The largest single block option is selling butterfly spreads, with a total notional value as high as $33 million, betting on BTC to continue soaring or pulling back (losses will occur if it rises slightly).
Recently, butterfly spreads have become very popular among large investors due to their dual offensive and defensive characteristics. Starting from $50,000, more and more large investors are choosing to use butterfly spread options for long positions.