A Whale Bets $23 Million on a Massive $BTC Surge. $200K #bitcoin ?
Why an investor is betting 23 million $ on a bitcoin at 200,000 dollars
The position on bitcoin is based on a bull call spread between 140,000 dollars and 200,000 dollars, revealed by Deribit Insights. Indeed, the buyer acquired call options at 140K, financed by selling calls at 200K, for an expiration in December 2025. This strategy reduces the initial cost while setting an upper limit to the gain.
However, for this setup to be profitable, BTC must exceed 140,000 dollars, with a maximum gain if the price reaches or exceeds 200,000 dollars. Such an operation, valued at 23.7 million dollars, represents one of the most significant open interest positions in the Bitcoin options market.
