Data: A trader invested $2.36 million to buy 660 BTC, along with $120,000 in call options and $80,000 in put options.

ChainCatcher message, according to on-chain analyst @ai 9684xtpa monitoring, a trader has set up a large “Heaven and Earth” options strategy on Deribit exchange, investing approximately $2.36 million to bet that Bitcoin prices will experience significant volatility by the end of March.

The trader also purchased 660 BTC call options with a strike price of $120,000 (costing about $860,000) and 660 BTC put options with a strike price of $80,000 (costing about $1.5 million), all expiring on March 27, 2026. This strategy indicates that the trader expects BTC prices to potentially fluctuate upward by nearly $28,000 or downward by $12,000.