🇭🇰🐳 Tracing the #Crypto Market Selloff: Hong Kong Hedge Funds, or TradFi Cross-Asset Whales? Bitcoin’s early February 2026 drop to around $60,000 coincided with broader cross-asset deleveraging, fueling speculation about a large fund liquidation. While some attributed losses to ETF-based volatility strategies, others suggested a TradFi player unwinding cross-asset positions. Industry insiders report no evidence of a #major #crypto fund collapse, indicating that macro pressure and #ETF flows are amplifying the selloff amid low liquidity. #etf

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