Arthur Hayes, co-founder of BitMEX, wrote that the MOVE index broke through 140 recently (the high on April 9 was 139.88), and then quickly fell back to 128.83, a single-day drop of 7.9%. He pointed out that whenever the MOVE index exceeds 140, it usually triggers an immediate policy stimulus response. He hinted that in a similar situation next time, Bitcoin may not fall in line with the stock market, but "take off" first. The MOVE index measures the volatility of the US Treasury market and is an important indicator of market policy expectations.