Bitcoin's price has recently dipped below $60,000, triggering significant market activity, including a $1 million options trade on Deribit that signals expectations for high volatility. A trader executed a long straddle by purchasing 100 contracts at a $66,000 strike price, with options expiring on November 29. This comes as BlackRock has reportedly purchased $742 million worth of Bitcoin over the last 16 days, increasing its total holdings to over 369,822 Bitcoin, valued at approximately $22.4 billion. As the market fluctuates, Bitcoin experienced over $53 million in long liquidations. Notably, 18,000 Bitcoin options are set to expire soon, with a notional value of $1.1 billion and a max pain point at $62,000. Meanwhile, MicroStrategy's founder Michael Saylor has expressed ambitions for the company to become a leading Bitcoin bank, aiming for a trillion-dollar valuation in Bitcoin-related financial instruments.