Arthur Hayes: The plunge may be due to traders' hedging operations on IBIT, and I will look for points that could trigger sharp volatility.

According to Odaily, Arthur Hayes posted on X stating: "The sharp drop in BTC may have been caused by traders' hedging operations on IBIT structured products. I will compile a complete list of all notes issued by banks to more clearly identify the potential triggers for sudden price surges and drops. Since the rules of the game have changed, we must also keep up with the times."