📅 BTC Options Apr 24 Expiry: Big Players Capping Downside Around 59K In the previous post, we observed strategies positioning for BTC to move below 61K, including a Long Straddle (68K strike) — breakeven below 61K, and a Long Put (61K strike) — breakeven below 59K. With this setup, the further BTC trades below 61K into the Apr 10 → Apr 24 window, the more both Big Players benefit significantly. However, on the morning of Apr 9, the market recorded two notable strategies for the Apr 24 expiry. Structurally, both are relatively similar to a Long Ratio Put Spread, specifically: 1/ Strategy 1 (Notional ~3.5K BTC | Net Premium ~ $54K) – Expecting price to trade within the 58.5K – 66K range – Max profit around 61.8K (Max PnL ≈ $3.9M) – Unlimited downside if price breaks below 58.5K 2/ Strategy 2 (Notional ~3K BTC | Net Premium ~ $57K) – Expecting price to trade within the 59K – 65K range – Max profit around 62K (Max PnL ≈ $3M) – Unlimited downside if price breaks below 59K