According to Miles Deutscher, the primary risk for a significant BTC price crash does not stem from forced selling, but rather from traders front-running an unwind trade, which could be triggered by a broader macro risk-off event or black swan scenario. Deutscher notes that the introduction of BTC ETFs has significantly increased retail participation, potentially amplifying volatility during major market shifts. This analysis is crucial for cryptocurrency traders monitoring systemic risks and liquidity events, as ETF-driven flows could accelerate sell-offs in both BTC and the wider crypto market (source: @milesdeutscher, Twitter, June 21, 2025).