Arthur Hayes: The OVE index breaking through 140 may trigger policy stimulus, and Bitcoin may be the first to rebound BitMEX co-founder Arthur Hayes posted that the MOVE index recently broke through 140 (with a high of 139.88 on April 9th), but 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 similar situations next time, Bitcoin may not fall synchronously with the stock market, but instead take off first. MOVE index measures the volatility of the US treasury bond bond market and is an important indicator of market policy expectations.