A significant $1 million bitcoin options trade has been executed on Deribit, signaling expectations for major price swings outside the $53,000-$87,000 range. The trade, a long straddle with 100 call and put contracts at a $66,000 strike price expiring on November 29, is the largest block trade in terms of premium paid in the past 24 hours, according to data from Amberdata. This comes amid a broader context of increasing volatility in the cryptocurrency market, with a record amount of dollar-backed stablecoins and a spike in large bitcoin transactions potentially forming a bedrock for a broader BTC rally. Additionally, Ethereum has seen significant activity with 7,000 ETH from the PlusToken scam being sold for $16.7 million, raising concerns of a potential sell-off of the remaining 542,000 ETH worth $1.3 billion.