Arthur Hayes: "BTC's plunge is a result of IBIT...The rules of the game have changed."
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Arthur Hayes, co-founder of Bitmex, said, "The Bitcoin crash is probably due to hedging by dealers linked to the IBIT (BlackRock BTC Spot ETF) structured product." He added, "We are going to compile a full list of all bonds issued by banks to better understand the trigger points that could cause a sharp price increase or decrease. When the rules of the game change, you have to change too."
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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