Key takeaways Why is BlackRock leading in ETF exits? According to Hayes, hedge funds are liquidating their BTC positions as basis trading declines. What is the pivot he sees for the market? According to him, an improvement in liquidity conditions in early December could boost risk assets and drive BTC to $200,000. Bitcoin (BTC) institutional … Continue reading Bitcoin ETFs Lose $2.6 Billion – Why Arthur Hayes Says “Investors Don’t Like BTC”