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Arthur Hayes: The sharp decline may stem from traders hedging positions with IBIT, seeking potential trigger points for extreme volatility.
Odaily Planet Daily reports that Arthur Hayes posted on X: “The sharp drop in BTC may be due to traders hedging structured products from IBIT. I will compile a complete list of all bank-issued notes to better identify potential triggers for rapid price swings. The rules of the game have changed, and we must keep up with the times.”