Recently, a trader made a big move on a leading derivatives trading platform—buying 3,000 BTC call options with a strike price of $100,000, expiring on January 30, 2026. To acquire these contracts, he paid a premium of $2.86 million.

Let's do some calculations. Based on this cost, BTC needs to rise above $100,953.67 for him to break even. In other words, from the current price to that level, a significant rebound is required. If BTC doesn't break $100,000 by the expiration date, it will be a loss; if it doesn't rise enough, the $2.86 million premium will be completely lost.

Of course, he can also choose to take profits at a suitable point during the market movement, not necessarily waiting until the delivery date. As long as BTC surges violently, there's a chance to lock in gains early at a high level.

This move is quite crazy. Either he is very optimistic that BTC will have a big rally in the first half of 2026, or he has strong confidence in a short-term rebound. Betting $2.68 million on a breakout at the strike price, whether this contract can turn around depends entirely on how the market moves.