Crypto 350

06/17 11:49

Bitwise Advisor Explains Enormous Crypto CrashBitw

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Bitwise Advisor Explains Enormous Crypto CrashBitwise advisor Jeff Park has identified "institutional risk management" as the primary engine behind Bitcoin’s (BTC) collapse to an intraday low of $60,008.Bitwise advisor Jeff Park has taken to the X social media network to outline a rather compelling theory for the recent cryptocurrency carnage. The recent implosion of crypto can be mainly explained by institutional risk management, Park argues. Multi-strategy hedge funds are likely responsible for the extremely aggressive selling. According to Park, they forced a capitulation to satisfy internal risk models. Read more on U.Today https://u.today/bitwise-advisor-explains-enormous-crypto-crashAs noted by Park, roughly one-third of all Bitcoin ETF shares are owned by institutional players. Approximately 50% of that slice is held by hedge funds. This capital is "fast money" that gets deployed in delta-hedged or relative value (RV) neutral trades rather than long-term directional bets. "That's a decent amount of fast money flows that can capitulate if the cost of funding or margin requirements tick up," Park wrote. Read more on U.Today https://u.today/bitwise-advisor-explains-enormous-crypto-cras

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