Arthur Hayes Suggests Bitcoin Drop Tied to IBIT Dealer Hedging Dynamics
Bitcoin’s recent sell-off may have been driven by ETF-related hedging activity, according to BitMEX co-founder Arthur Hayes, who argued that dealer positioning around BlackRock’s spot Bitcoin ETF played a key role in the move. Hayes framed the decline as a function of changing market mechanics rather than a deterioration in Bitcoin’s fundamentals, emphasizing that traders … Read more