An institutional trader executed a colossal Bitcoin bet valued at 1.76 billion dollars this Monday, using a complex financial options strategy to position themselves in the market. According to data revealed by the options exchange platform Deribit, the operation seeks to capitalize on a moderate teh Bitcoin price rally towards the year-end, explicitly ruling out explosive new all-time highs in the short term.
The financial maneuver involves a technical strategy known as “call condor” for a notional of 20,000 BTC expiring in December 2025. Specifically, the investor structured their position by buying and selling call options with different strike prices staggered between 100,000 and 118,000 dollars. Thus, the profitability target is set for the asset to end the year within the middle price range, specifically gaining if it stays between 106,000 and 112,000 dollars. On the other hand, this tactic caps gains above 118,000 dollars, implying a view of controlled and non-parabolic growth.
This strategic move occurs while the leading asset rebounds towards the 88,000 dollar zone from its recent lows, driven by renewed expectations of Federal Reserve rate cuts. However, spot ETFs recorded net outflows of 151 million dollars according to data source SoSoValue, showing some institutional caution in the spot market. Furthermore, this operation was conducted via a “block trade,” a large-scale private transaction designed to not affect the market price of the asset through the use of specialized intermediaries.
Why are major investors ruling out an imminent new all-time high?
The execution of this complex strategy highlights the growing sophistication of market participants, who are no longer just speculating on the general price direction. On the contrary, they are placing nuanced bets on the exact magnitude of the rally, suggesting that the season of unbridled euphoria might be giving way to much more calculated and rational movements. Therefore, the structure of the trade clearly indicates that “whales” do not foresee the cryptocurrency surpassing the 126,000 dollar record before the current annual cycle ends, preferring to secure profits in intermediate ranges.
The signal sent by this smart money is unequivocal: there is confidence in a continuous bullish trend but contained within logical limits. As we approach the close of the fiscal year, attention will focus on whether the price manages to effectively consolidate in the target zone of 100,000 dollars. Finally, the success of this massive Bitcoin bet will depend on the market maintaining its positive momentum without entering a phase of extreme volatility that breaks the ceilings established by the strategy.
