[Analyst: BTC Plunge May Be Due to Forced Liquidation of Leveraged Options by IBIT Hedge Funds, Massive Scale Likely to Be Disclosed Soon] BlockBeats News, February 6, DeFi Dev Corp Chief Investment Officer and Chief Operating Officer Parker White posted on social media, stating, 'Yesterday, BlackRock's IBIT trading volume reached $10.7 billion, nearly double the previous highest daily volume, with option premiums around $900 million, both setting historical records. BTC and SOL fell simultaneously, coupled with low CeFi liquidation levels, leading to suspicions that the volatility originated from large IBIT positions, possibly held by one or more non-crypto hedge funds headquartered in Hong Kong, China. Data shows that some funds hold extremely high positions in IBIT, even operating as single-asset funds, aiming to isolate margin risks. Silver prices plummeted today, and yen arbitrage trades accelerated their unwinding, exacerbating market pressure and further impacting fund leverage positions. These funds may have attempted to recover losses through highly leveraged options trading, but the losses continued to expand, ultimately causing Bitcoin's decline to completely collapse their positions. Due to the delayed disclosure of 13F reports, related position information is expected to be visible only by mid-May, but the scale of the event is massive and difficult to conceal for long.'