# Options Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Options", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Mysterious Whale Bets $2.5 Billion on BTC Surpassing $72,000 by August, $70,000 Mark Becomes Key

An anonymous trader executed a large bullish spread on Deribit, buying 20,000 Bitcoin call options with a $70,000 strike price and simultaneously selling 20,000 calls with a $72,000 strike. The trade, with a notional value of $2.5 billion, expires on July 31st—just two days after the upcoming Federal Reserve policy meeting. This structure positions for Bitcoin's price to rise above $70,000 by expiry, capping gains at $72,000. Bitcoin currently trades around $64,289, requiring a roughly 9% surge to reach the lower strike. The trade faces immediate obstacles, including key on-chain resistance near $69,000 and volatile inflows into U.S. spot Bitcoin ETFs, which have seen recent large daily outflows. Market predictions provide contrasting context, with some institutional analyses setting short-term support levels as low as $58,000-$59,000, while others maintain long-term bullish year-end targets. The outcome hinges on whether post-Fed demand can overcome these technical and ETF flow hurdles within the trade's brief 10-day window.

marsbit10h ago

Mysterious Whale Bets $2.5 Billion on BTC Surpassing $72,000 by August, $70,000 Mark Becomes Key

marsbit10h ago

BTC Market Pulse: Week 30

After rebounding from around $58,000 to briefly touch $65,000, Bitcoin has entered a consolidation phase near $64,500. While the recovery is intact, upward momentum has cooled with subdued spot trading volumes, indicating the market is seeking a firmer equilibrium. Derivatives markets show compressed volatility spreads, suggesting a reduced risk premium as sentiment becomes less defensive. Speculative activity is gradually returning, evidenced by rising futures and options open interest and a shift to net buying in perpetual markets. Demand for downside protection has eased. However, lower funding rates indicate this exposure is being rebuilt cautiously, avoiding excessive leverage. On-chain metrics show stabilization, with modest improvements in economic activity. Capital flows remain cautious, but recovering US spot ETF inflows and ETF cohorts nearing breakeven point to fading institutional selling pressure. The market appears increasingly balanced, supported by long-term holder profitability but remains sensitive to shifts in momentum due to a growing share of short-term capital.

insights.glassnode20h ago

BTC Market Pulse: Week 30

insights.glassnode20h ago

Crypto Watch This Week: Uniswap Fee Switch Vote Starts Today, CLARITY Act Could Face Senate Vote This Week

**Weekly Crypto Watch: Key Events & Catalysts** This week’s crypto focus is on pivotal governance votes, potential regulatory progress, and major protocol upgrades. **Uniswap** takes center stage with two crucial on-chain proposals going to vote from July 19-26. The first aims to activate protocol fees for Uniswap V2/V3 on the new Robinhood Chain and direct them to a UNI token burn mechanism. The second seeks to activate V4 fees across seven major chains, including Ethereum and Base. Robinhood Chain has already seen over $60B in Uniswap volume since its launch 18 days ago. The proposals build on last year's UNIfication plan, which transformed UNI into a fee-generating asset. On the **U.S. regulatory front**, the **CLARITY Act** could face a Senate floor vote this week. While some lawmakers are optimistic, the bill faces hurdles, needing at least 60 votes to overcome a filibuster. Prediction market Polymarket currently gives it only a 34% chance of being signed into law this year. Other notable catalysts include: * **Morpho's** fixed-rate lending protocol, **Morpho Midnight**, is set for its public launch, starting with a single market (cbBTC/USDC) on Base. * **Derive** (formerly Lyra) is preparing for its largest-ever upgrade, **V3**, which will reportedly introduce 0DTE options and a more retail-friendly UX. * **Pendle** will hold a community call on July 22 to share its roadmap, with a focus on expanding its RWA (Real World Assets) capabilities. * An undisclosed privacy-focused application for **Polymarket**, built on **Starknet**, is reportedly launching on July 20.

marsbitYesterday 10:13

Crypto Watch This Week: Uniswap Fee Switch Vote Starts Today, CLARITY Act Could Face Senate Vote This Week

marsbitYesterday 10:13

Strategy’s MSTR falls 79% – Could calls become ‘a weapon’ if STRC restarts?

Michael Saylor's company, MicroStrategy's (MSTR) stock has fallen 79% over the past year. This decline coincides with a strategic shift from aggressive Bitcoin (BTC) accumulation to defensive capital management. In recent months, the company sold a small fraction (0.43%) of its Bitcoin holdings, totaling 3,620 BTC, while raising significant cash through share sales. Its USD Reserve has doubled to $3.0 billion, strengthening its balance sheet to cover obligations and increasing its preferred stock (STRC) dividend coverage. The core debate revolves around the company's future path. Critics, like Peter Schiff, question the investment thesis. Supporters, however, speculate that if MicroStrategy restarts its STRC financing mechanism to fund new Bitcoin purchases instead of diluting common shares (MSTR), leveraged call options on MSTR could become highly profitable. The company's next major decision is whether to resume Bitcoin buying in a future bull market and potentially sell some holdings for gains, deviating from its historical buy-and-hold strategy. The article notes these recovery scenarios are speculative.

ambcrypto07/17 10:46

Strategy’s MSTR falls 79% – Could calls become ‘a weapon’ if STRC restarts?

ambcrypto07/17 10:46

‘40% of long-term supply under loss’ – Why Fidelity foresees Bitcoin cycle bottom

Bitcoin is showing signs of potentially forming a market cycle bottom, according to Fidelity. Analyst Zack Wainwright notes that long-term holders now possess a near-record 15 million BTC, with over 40% of this supply held at a loss—a level historically associated with bottoming phases. Data shows the supply in loss recently climbed to 50% as Bitcoin fell below $63,000, mirroring patterns seen at past cycle lows like the 2022 bottom near $16,000. However, recovery may face headwinds. U.S. spot Bitcoin ETF demand remains muted, with significant institutional outflows persisting, particularly from giants like BlackRock and Fidelity. Analysts suggest any sustained price recovery requires a reversal in this institutional selling pressure. Options market activity reflects caution, with high trading volumes for put options (bearish bets) targeting $62.5K and $56K, indicating hedging against further downside. While there is also call option interest at higher prices, signaling potential for a sideways range between $55K and $70K, the overall sentiment suggests $60K is a critical support level. Analysts warn that despite bottoming signals, sharp moves below $60K are possible amid ongoing macroeconomic and geopolitical pressures.

ambcrypto07/17 07:44

‘40% of long-term supply under loss’ – Why Fidelity foresees Bitcoin cycle bottom

ambcrypto07/17 07:44

$1.43B in Bitcoin and Ethereum Options Expire: Will Traders Brace for the Next Move?

A significant options expiry on July 17 saw 19,000 Bitcoin contracts (notional value $1.2B) and 123,000 Ethereum contracts ($230M) expire. Bitcoin's put-call ratio was 0.9 with a max pain point of $63,000, while Ethereum's elevated put-call ratio of 1.61 indicated stronger bearish hedging sentiment. BTC has been range-bound between $60K-$65K, with key gamma exposure levels at $64K and $70K. ETH's gamma is more dispersed between $1,825 and $2,000. Current market positioning shows caution, with traders using small, out-of-the-money bets and no clear directional conviction. In short-term price action, Bitcoin, trading near $62,777, faces immediate support around $62,631 and resistance near $62,859. A breakdown could push it below $62.5K. Ethereum, down over 5% to ~$1,825, risks falling toward $1,782 support, with further downside potentially below $1,700. A bullish reversal for ETH would need to break through the $1,867 zone to target above $1,900. Overall, market sentiment remains subdued amid broader equity corrections.

TheNewsCrypto07/17 07:13

$1.43B in Bitcoin and Ethereum Options Expire: Will Traders Brace for the Next Move?

TheNewsCrypto07/17 07:13

Pledging ETH Earned a Steady $46 Million, So Why is BitMine Still Deep in the Red?

BitMine reported a significant surge in revenue for Q3 FY2026, driven by its Ethereum staking and validation business which generated $45.7 million. However, the company posted a net loss of $83.6 million, primarily due to a $92.1 million loss from Ethereum derivatives and options trading. This loss, stemming largely from expired contracts and exercised positions, completely offset the gains from staking. To fund its aggressive accumulation of Ethereum, BitMine has heavily relied on equity financing, significantly diluting existing shareholders. In the first nine months of the fiscal year, it issued over 340 million shares to raise approximately $11.87 billion, using most of it to purchase Ethereum. As of May 31, the company held 5.42 million ETH with an average cost of $19.05 billion, resulting in an unrealized loss of roughly $8.2 billion due to market depreciation. While staking provides a stable cash flow that covers core operational costs, the company faces rising expenses from long-term service agreements and high management fees. Additionally, BitMine remains highly dependent on continuous access to capital markets for funding its operations and expansion. The company's long-term viability hinges on its staking income consistently covering these costs and future losses, its ability to secure ongoing equity financing, and a substantial recovery in the price of Ethereum.

marsbit07/16 04:19

Pledging ETH Earned a Steady $46 Million, So Why is BitMine Still Deep in the Red?

marsbit07/16 04:19

How Did BitMine, with Staked ETH Generating $46 Million in Steady Income, Still End Up in Massive Losses?

BitMine, a crypto asset manager, reported strong revenue growth in its fiscal Q3 2026, primarily from its Ethereum staking operations, which generated $45.7 million. However, the company posted a net loss of $83.6 million for the quarter. This significant loss was driven by a $92.1 million deficit from Ethereum derivative options trading, completely offsetting the staking income. The company is aggressively shifting from Bitcoin mining to accumulating Ethereum, financing this strategy almost entirely by issuing new common stock. This has led to substantial shareholder dilution, with the share count increasing by 149% over nine months. As of late May, BitMine held 5.42 million ETH with a massive unrealized loss of approximately $8.2 billion due to market depreciation. While the staking business provides a stable cash flow that covers core operational costs, profitability is pressured by high, fixed fees from long-term service agreements and growing administrative expenses. Although the company holds no traditional debt, its model heavily relies on continuous access to capital markets for equity financing to sustain its Ethereum accumulation. The company's long-term viability hinges on its ability to manage derivative risks, control costs, and benefit from a significant recovery in Ethereum's price.

Foresight News07/16 03:05

How Did BitMine, with Staked ETH Generating $46 Million in Steady Income, Still End Up in Massive Losses?

Foresight News07/16 03:05

Derive [DRV] gains 40% on Upbit news – THIS zone marks next major hurdle

Derive (DRV) surged approximately 40% following news of its upcoming listing on the South Korean exchange Upbit, with trading in KRW, BTC, and USDT pairs set to begin on July 14th. The announcement triggered aggressive buying, raising the price from $0.1147 to a peak of $0.19, though it later settled near $0.1471. Market capitalization reached roughly $109.64 million, and 24-hour trading volume spiked by over 1744% to $9.38 million. Technical indicators like the RSI hitting 84.43 prompted early profit-taking, suggesting overheated momentum. The key challenge for DRV is to prove sustained demand beyond the initial listing hype. Maintaining support above $0.131 will be crucial to confirm continued buyer interest, while metrics like holder growth, stable volumes, and exchange flows will determine if the rally can evolve into a stronger, long-term market foundation or follow a typical post-listing reversal pattern.

ambcrypto07/14 19:04

Derive [DRV] gains 40% on Upbit news – THIS zone marks next major hurdle

ambcrypto07/14 19:04

Bitcoin price recovers – But ONE hurdle keeps BTC bulls on edge

Bitcoin is showing signs of demand recovery after weeks of selling pressure, with the 30-day cumulative demand rebounding sharply. However, the recovery is uneven: futures market demand has recovered to neutral levels, while spot market demand remains weak, indicating long-term investors are still hesitant. This divergence suggests traders are positioning for price increases before significant capital enters the spot market. Downside fears in the options market have eased compared to previous sell-offs, indicating expectations are shifting from a sharp capitulation to a slower bottoming process. Despite this calmer sentiment, the recovery faces headwinds from long-term holders distributing coins and taking profits. Data shows supply is rotating from experienced holders to newer participants, and until this selling pressure subsides and spot accumulation strengthens, Bitcoin's recovery is likely to remain gradual rather than accelerating into a sustained bullish trend.

ambcrypto07/10 02:02

Bitcoin price recovers – But ONE hurdle keeps BTC bulls on edge

ambcrypto07/10 02:02

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