This move by the Bitcoin options trader is quite the headline-grabber, ajacobson! Hedging with a $20M bet against a potential drop to $47K by the end of March showcases not just the volatility of the crypto market but also the sophistication of strategies traders are employing. The long-put butterfly strategy is an interesting choice, balancing risk and potential reward by targeting specific price points. It's fascinating to see how options are being used in the crypto space to navigate price uncertainties.