Trader Bets $20 Million That $BTC Will Drop to $47K in the Next Month; Memecoin Raises $3.5 Million Set to Rally on Retail Launch

Institutional investors are deeper into Bitcoin ($BTC) trading than most realize. Bitcoin ($BTC) Spot ETFs have unlocked access via traditional brokerage accounts, which has been a massive boon given the significant and sustained nature of the inflows. But traditional institutional investors are making some wild options plays. One trader bets $20 million that $BTC will drop to $47K in the next month. Will it play out?

Outside wild institutional trades, crypto-natives are diving deeper into the altcoin stack. When the Ethereum ($ETH) ETF gets approved, liquidity will rush into DeFi, and there will be another DeFi Summer-esque altcoin season. Among this basket of altcoins, Galaxy Fox ($GFOX) is signaled as a top crypto to buy now, with the native token $GFOX set to rally on retail launch.

Bitcoin ($BTC): A $20 Million Bet

Institutional money loves options and these derivative contracts are notoriously complex. They give the buyer the right but not the obligation to buy or sell an asset at a chosen price. One $BTC options trade has taken out a massive trade with a notional cost of over $20 million.

Their maximum profit zone will be $BTC falling to $47,000 on the day of expiry several weeks from now. They will be in the money if $BTC trades anywhere between $45,000 and $49,000. The strategy has a fixed loss at both ends and is sometimes called a ‘‘butterfly’’ bet.

On-chain analysts show whales adding to their short positions, and institutional money is long on volatility or short on price, with all of these bets converging on the halving. This is all overly complicated noise for your average investor, and $BTC remains a top crypto to buy. Forget complex financial tools and leverage. Buy and hold spot and watch the supply crunch play out.

Galaxy Fox ($GFOX): Set to Surge On Retail Launch

On-chain is where all the action has been taking place, and presales have seen a mini-renaissance. Galaxy Fox is at the head of the pack as the top crypto to buy now and has already raised over $3.5 million, selling over 2.7 billion tokens in the process. Crypto-natives know that liquidity will overspill from the ETFs sooner or later and want to be perfectly positioned.

Galaxy Fox enjoys a highly unique positioning thanks to its hybrid build. Its play-to-earn component places it in the booming GameFi narrative, and its meme exterior allows it to benefit from growing memecoin speculation. The Web3 runner pays out prizes to the top-ranked players and acts as a perfect onboarding funnel for this galactic ecosystem.

The $GFOX tokenomics are turning heads, and following a fair launch mechanism explains its early success. Distributed ownership is vital for meme projects, and Galaxy Fox has allocated 70% of tokens to be sold via the presale. On top of this, $GFOX will experience no net inflation post-launch due to its token burn.

Staking rewards are another hook, and with taxes funding these rewards, $GFOX stakers are earning yield on a deflationary asset. Already 92% sold out, gearing up for its retail launch, and marked as one of the best cryptocurrencies to buy among ICO enthusiasts, $GFOX looks ready to blow the roof off at launch.

Closing Thoughts: Altcoin Season Loading

Every cycle has an altcoin season, typically after a wild move by Bitcoin. A perfect storm is brewing. $BTC is approaching the halving, and its ATH, an Ethereum ETF, will come later this year, and altcoins will explode to the upside.

Galaxy Fox is a top crypto to buy now in its presale, where you can take advantage of a massively discounted valuation. Participate today and wait for a massive retail rally at launch!

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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