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Bitcoin's Brutal Sell-Off Sparks a Flurry of Trading in Related Stocks, Including One Big Bullish Bet
The year has been a rocky one for the flagship cryptocurrency, but traders aren't backing away from the space.
TL;DR
- Bitcoin fell below $60,000 for the first time since October 2024, losing 27% of its value in 2026.
- Despite losses, significant trading activity is occurring in Bitcoin-related ETFs and stocks.
- A trader sold call options on Strategy for $56 million, betting on a price drop below $125.
- Another trader is making a bullish bet on Coinbase, selling short-term calls and buying long-term calls worth $21 million.
- Tom Lee believes Bitcoin remains sound money due to its resilient proof-of-work architecture.