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 related to IBIT. I will compile a complete list of all bank-issued notes to better identify potential triggers for sudden price surges or drops. The rules of the game have changed, and we must also keep up with the times.”