On June 4, a trader made headlines by acquiring 3,000 contracts of the BlackRock spot bitcoin ETF (IBIT) with a bullish bet on a price surge. This trader opted for the $77 strike call option, which expires on June 27, spending a total premium of $39,000 in hopes of capitalizing on a significant price shift, given the ETF closed at $60.40 a share. Essentially, this wager suggests a belief that the price will rise by over 28% in less than a month. As noted by market observer EndGame Macro, the trader's decision could stem from expectations of major market catalysts such as new ETF inflows or regulatory approvals. Interestingly, the IBIT options market displayed a bullish shift with the put-call skew turning negative, suggesting renewed optimism among investors. This trend indicates that calls are now trading at a premium compared to puts, reflecting a shift in market sentiment following a period of cautiousness. Overall, the prospect of volatility leading up to June 27 is high, and traders will be keen to watch how this impacts the ETF's performance.
Trader Bets on 28% Surge in BlackRock's BTC ETF by Month-End
A trader has purchased call options on BlackRock's bitcoin ETF, anticipating a 28% price increase by June 27. This move indicates a bullish sentiment in the market.
Jamie Bennett
Crypto Analyst
4 min read
31,273
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$105731.25
Confidence
80%
Stop Loss
$102000
Take Profit
$110000 - $115000
Positive market sentiment driven by significant bullish options activity surrounding Bitcoin, indicating a potential price surge.
