According to ChainCatcher, Parker posted on the X platform that IBIT trading volume reached a record high of $10.7 billion, nearly double the previous record. Additionally, IBIT options premium trading volume reached approximately $900 million, also a record high. The recent decline may be due to a large IBIT holder, speculated to be one or more non-crypto hedge funds located in Hong Kong.
Because these funds operate outside the crypto space, they went unnoticed by the crypto community. It's speculated that these funds may have borrowed capital in Japanese yen to engage in leveraged options trading on IBIT, and that the subsequent drop in BTC, after losses in other trades like silver, ultimately led to the liquidation of their leveraged positions. Parker stated that there is currently no concrete evidence, and his viewpoint is merely speculation based on limited clues.
