Bitcoin Price Volatility Continues, Traders Place Big Bets on Related Stocks

Bitcoin's price has been on a wild ride in 2026, losing around 27% of its value and falling below the $60,000 mark for the first time since October 2024. However, traders remain optimistic about the cryptocurrency market, with some placing big bets on related stocks.

The iShares Bitcoin Trust ETF (IBIT) was among the top 20 most popular tickers in the options market by volume, and two of the top 15 largest options trades by dollar amount were in Strategy and Coinbase. One trader sold 29,425 of the 125/180-call diagonals in Michael Saylor's Strategy, collecting around $56 million in the process.

This trade is based on an options strategy that profits if Strategy shares drop and stay below $125 through August expiration. The expert who made this trade is likely counting on the company's recent sales of Bitcoin being a one-time event.