A recent $23.7 million bet on Bitcoin has raised questions about the current market state and its future. The investor hopes for a price rise to $200,000 by the end of 2025.
Massive Bet on Bitcoin
The $23.7 million bet on Bitcoin aligns with a bullish strategy known as a bull call spread between $140,000 and $200,000, according to insights from Deribit. The investor bought call options with a strike price of $140,000, financing them by selling calls at $200,000, set to expire in December 2025. This strategy reduces initial costs while establishing an upper limit for profit.
Bitcoin Market: Liquidations and Support
Following this bet, Bitcoin experienced a liquidation of $130 million in long positions when it dropped below $115,000. This area serves as an important support level, while order book data indicates strong buying interest. Key defense levels are set between $113,500 and $110,530, which will be critical if the price breaks below $115,000.
Forecasts for the Next Bull Cycle
Analysis of Bitcoin options for December 2025 indicates that the market is anticipating a gradual return to a new all-time high. The strike levels used ($140,000 on purchase and $200,000 on sale) create a corridor for a moderate bullish scenario, where BTC could exceed $130,000 by late 2024 and aim for $180,000-$200,000 by mid-2025. Key factors behind this forecast include reduced supply following the halving, increased ETF interest, and stabilized interest rates.
The $23.7 million bet on Bitcoin at $200,000 by the end of 2025 reflects a strategic outlook among investors in the market. Given the signals and institutional positions, the question remains: can Bitcoin achieve this goal or is it merely an illusion?
