market structure

Arthur Hayes Suggests Bitcoin Drop Tied to IBIT Dealer Hedging Dynamics

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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

Senate Agriculture Committee Advances Clarity Act in Narrow Party-Line Vote

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The U.S. Senate Agriculture Committee has approved its portion of the Clarity Act after a tightly contested party-line vote, moving the crypto market structure bill one step forward. The legislation advanced out of committee by a 12–11 margin, with all Republican members voting in favor and no Democrats supporting the measure. The vote underscores persistent … Read more