According to Greeks.live, the crypto market experienced its largest options Block trade in history, totaling $1.19 billion in notional value, equivalent to 11,350 BTC with $7.5 million in premiums. The trade was structured in two parts, including a 3,800 set of bull spreads for September, indicating a strong position on both Bitcoin price appreciation and increased volatility. This unprecedented options activity suggests heightened institutional interest and could lead to increased price swings for Bitcoin, making September 2025 a critical period for crypto traders (source: Greeks.live, June 5, 2025).