Will Bitcoin Rocket to the Moon? Trader’s Wild 28% Bet Sparks Hilarity

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Bitcoin moonshot illustration

What to Know: 🤔

  • Our fearless trader, perhaps fueled by too much caffeine or crypto dreams, snatched up 3,000 call options—yes, thousands!—at a daring $77 strike, aiming for a meteoric rise by June 27.
  • This move screams conviction—or desperation—looking for a market catalyst or maybe just hedging their ego.
  • The options scene for IBIT has turned from gloomy to giddy—calls are pricier than puts, because who doesn’t love hope sprinkled with a dash of madness? 🎲

In the grand carnival of crypto, a bold wager on BlackRock’s spot Bitcoin ETF (IBIT) has hit the tape this Tuesday, whispering promises of a “moonshot” or at least a good wipeout if the cosmos frowns upon it.

Specifically, a trader—probably sitting comfortably in their lockable bunker—secured 3,000 contracts of the $77 call options, expiring on June 27, throwing $39,000 into the abyss of optimism. Meatloaf would be proud: two out of three ain’t bad?

What’s a call? Well, it’s like giving someone a ticket to buy Bitcoin at today’s price, if they’re feeling lucky—or just plain reckless. The $77 strike is the hypothetical rocket fuel, hoping the price blasts past the current $60.40—an 28% bump, or a moonshot, if you prefer rocket metaphors.

EndGame Macro, a pseudonymous soothsayer of market whims, dubbed it a “high-conviction bet,” possibly fueled by dreams of ETF inflows, macro pivots, or regulatory miracles. Or maybe just betting on market pandemonium before June 27—because what’s life without a little chaos? 🚀

“Whether it’s a calculated moonshot or just a gambler’s folly, one thing’s certain: they’re expecting fireworks,” chortles Macro, while the market briskly shifts from bear to bull, like a yoyo with a bias.

Bullish vibes: Return of the Hope Train 🚂

Tuesday’s trading in the IBIT options market turned cheerily bullish, with the dreaded one-year put-call skew flipping negative—an elegant way of saying that calls are now more expensive than puts, because everyone loves a comeback story, right?

After last week’s gloom—where puts traded richer than calls—the tables turned, bringing hope and maybe a smidgeon of irrational exuberance back. Or perhaps, just a normal day in crypto land where logic is optional and moonshots are an accepted risk.

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2025-06-04 14:26