DFDV COO: Hong Kong non-crypto hedge funds may experience market decline due to IBIT leveraged options trading margin calls

Odaily Planet Daily News reports that Parker posted on the X platform stating that IBIT’s trading volume today reached $10.7 billion, setting a new all-time high, nearly double the previous record. Additionally, the IBIT options gold trading volume today was approximately $900 million, also hitting a new all-time high.

The recent decline may be due to a large IBIT holder, and it is speculated that this entity is one or more non-cryptocurrency hedge funds based in Hong Kong. Since these funds operate outside the crypto space, they have gone unnoticed by the crypto community. It is suspected that these funds may have used yen-denominated borrowing to leverage options trading on IBIT. When losses occurred in other trades such as silver, the decline in BTC ultimately led to the liquidation of their leveraged positions.

Parker stated that there is currently no concrete evidence, and his views are merely speculative based on partial clues.