Whales Join Forces to Increase Positions: An Analysis of $353 Million BTC Options Trading

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【BlockBeats】Recently, on-chain data revealed a notable options trading activity. A major whale was highly active on the Deribit platform, completing two sizable BTC call option purchases in a short period.

Specifically, this whale investor bought 1,300 BTC call options expiring on February 27, 2026 (strike price $100,000), followed by another 2,400 BTC call options expiring on January 30, 2026 (strike price $98,000). The total premium paid for these two transactions reached $10.22 million.

If these two orders originate from the same account, then this whale is effectively taking a long position worth $353 million in BTC. Even if the orders belong to different investors, the close timing of the purchases is enough to indicate a consensus bullish outlook in the market. Such large options trades are often seen as important signals from institutions or major players regarding the future market trend.

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