Stone Whale Cut 100K: $8.2 Million USD Loss from BTC Betting

SybilAttackVictim · 2026-02-09T14:12:54+00:00

As Bitcoin options approach expiration, two major investors' bets on Bitcoin reaching $100K fall short, resulting in potential losses of $8.2 million due to BTC not hitting expected targets. Risks remain for future investments.

SybilAttackVictim

2026-02-09 14:12:54

Abstract generation in progress

This morning at 16:00, January options contracts officially expired. Although the initial expectation was that BTC would approach the 100K USD mark, the current price is at $68.73K — far from the target set by major investors. This means that the highly optimistic bets from whales have officially “missed the 100K” and lost the huge profit opportunity.

Two Major Investors Spend Millions of USD on Call Options

According to blockchain data, two big players have spent a massive amount to buy call options with strike prices of 100K and 98K USD:

First whale: Purchased 3,000 BTC call contracts with a strike price of $100,000, expiring on 01/30. The total cost for this position is $2.86 million USD.

Second whale: Holds 2,400 BTC call contracts with a strike price of $98,000, also expiring on 01/30. This position is part of a larger investment package with a total value exceeding $10 million.

These amounts represent absolute confidence from investors that Bitcoin will hit a new high within that month.

BTC Price Misses Expectations, Contracts Become Worthless

The plan did not go as expected. When BTC refused to break through $98K-$100K, all the options held by these two whales for today’s expiration became completely worthless. If they didn’t cut losses in time before the deadline, a total of $8.2 million USD in option premiums would be lost — money they cannot recover even if Bitcoin’s price recovers.

This is a costly lesson about the risks of overly ambitious bets in the financial markets.

Next Bets Still Face Similar Risks

But the story isn’t over. The second whale still maintains another position with a longer expiration:

Position: 1,300 BTC call options with a strike price of $100K, expiring on 02/27/2026. The premium paid for this position amounts to $4.878 million USD.

Given the current market conditions, this nearly $5 million bet also carries significant risk. If BTC continues to fail to reach 100K in February, this bet will face a similar fate.

This article is for informational purposes only and does not constitute investment advice. Please consider carefully before making any trading decisions.

BTC-3,81%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.