# Сопутствующие статьи по теме Bitcoin

Crypto Liquid Funds Reassess Risk After Bitcoin’s Sharp Crash

Bitcoin's sharp decline of over 20% last week caught crypto liquid funds off guard, primarily due to rapid sentiment shifts and heavy spot sales rather than a single event. Fund managers noted that the selloff revealed persistent structural weaknesses, with contagion spreading from unwinding crowded trades. Many describe the current state as a "rolling bear market" in altcoins, which have been under pressure since late 2024. Performance varies significantly among funds, with concentrated portfolios of liquid, revenue-generating assets recovering faster. Multi-strategy funds are generating alpha through relative value trades and volatility arbitrage, while leveraged altcoin funds faced the most significant challenges. Most managers see little chance of a broad altcoin rally soon, instead focusing on sector-specific opportunities driven by fundamentals. There is growing concern that crypto is losing its edge to AI and tech innovations, though skilled managers continue to find opportunities in consolidation and strategic shifts.

TheNewsCrypto02/09 07:46

Can IBIT Really Trigger a Market-Wide Liquidation?

Market discussions have recently focused on the sharp Bitcoin decline and subsequent rebound in early February, with attention turning to the role of BlackRock’s iShares Bitcoin Trust (IBIT). Jeff Park, an advisor at Bitwise, suggests the volatility was closely tied to IBIT’s record-high trading volume and put-heavy options activity on February 5. Contrary to expectations, IBIT saw net creation—not redemption—amid the sell-off, indicating the drop may not have been driven by ETF investor panic. Instead, the pressure likely originated from institutional deleveraging and risk reduction within traditional finance structures. Market makers and multi-asset portfolios adjusted derivatives and hedging positions, transmitting stress through IBIT’s secondary market and options activity, ultimately affecting Bitcoin's price. A common narrative attributes sell-offs to ETF redemptions forcing BTC liquidations. However, only authorized participants (APs) can create or redeem shares. Secondary market trading—no matter how large—only changes share ownership, not the underlying BTC held in custody. On the day of the drop, net BTC outflows from all U.S. spot Bitcoin ETFs amounted to only 5,952 BTC, a small fraction of total holdings. When IBIT sells off in the secondary market, APs may arbitrage discounts by buying shares and hedging with BTC spot sales or futures shorts. This hedging can transmit selling pressure to Bitcoin markets even without significant net redemptions. Thus, IBIT’s influence operates through complex, layered mechanisms rather than direct BTC liquidation.

marsbit02/09 07:39

Bitcoin enters a reset phase: Whales sell as BTC leverage gets flushed

ambcrypto02/09 07:02

Why This Bitcoin Bear Market Is Among The Worst Ever: CryptoQuant Researcher

A CryptoQuant researcher, Julio Moreno, indicates the current Bitcoin bear market is one of the worst in recent history based on the 365-day simple moving average (SMA). Bitcoin's price is currently 30% below this key metric, a deeper decline than in the 2014 and 2018 bear markets at a similar stage, though not as severe as the 60% drop witnessed in 2022. This highlights the asset's continued high volatility. For a market turnaround, improved demand is necessary, but capital outflows from US Bitcoin ETFs signal ongoing challenges. Despite a recent 2% rise, Bitcoin's price remains around $70,500, nearly 45% below its all-time high.

bitcoinist02/09 07:01

FT Column: Bitcoin's 'La Haine' Moment - The Fall Doesn't Matter, the Landing Does

Bitcoin is experiencing its worst crash since 2022, plummeting toward $60,000 and erasing all gains made since Donald Trump’s re-election. The crypto community, known for its resilience and “cope” mentality, remains outwardly confident despite massive liquidations—over $1.25 billion in a single 24-hour period. Influential figures like Balaji Srinivasan and Michael Saylor continue to evangelize, citing political support and long-term optimism. However, the author argues that such faith is misplaced. Even with a pro-Bitcoin U.S. president and favorable policies, the sell-off persists, revealing the fragility of a market built purely on speculation and the “greater fool” theory. The piece draws a parallel to the film *La Haine*, using the metaphor of a falling man repeating “so far, so good” to illustrate the denial preceding an inevitable crash. The core question remains: when the faith vanishes and the fools run out, how will Bitcoin land?

marsbit02/09 06:40

When Bitcoin Returns to the 60,000s: What Signals Is the Market Waiting for After the Oversold Drop?

Bitcoin recently fell to around $60,000, causing concern among investors. The market is currently in a C-wave decline within a larger A-B-C corrective structure that began from the October 2025 high of $126,200. The analysis presents three potential scenarios: the most likely being a 3-wave C-leg structure with a current rebound from ~$60k (targeting $72k–$74.5k or $80k–$80.6k resistance) followed by a final decline below $60k; a less probable complex prolonged correction; and a very low chance of a V-shaped reversal. Short-term trading using quantitative models yielded a 10.72% profit last week, while a medium-term short position from $89,000 remains open with significant gains. The weekly and daily trends are still bearish, but selling pressure shows short-term signs of weakening. Key support levels are $60k–$62.5k and $57.4k, with resistance at $72k–$74.5k and $80k–$80.6k. The strategy involves maintaining medium-term bearish exposure and executing short-term tactical trades on bounces, with strict risk management rules for stop-losses and profit protection.

Odaily星球日报02/09 06:36

Cryptocurrency's Great Collapse: Veteran Yi Lihua Loses $700 Million in a Week

The cryptocurrency market experienced a historic crash, erasing all gains from the post-Trump rally, with Bitcoin recording its largest weekly drop in three years. Prominent Chinese crypto figure Yi Lihua suffered catastrophic losses, liquidating 400,000 Ethereum over six days for a total loss of approximately $780 million, becoming one of the most significant "whales" hunted during the downturn. The crash was triggered by a sharp drop in silver and gold prices, exacerbated by hawkish signals from the U.S. Federal Reserve. This led to a broad sell-off in risk assets, including cryptocurrencies. Traditional investors, who had entered the market via Bitcoin ETFs approved in 2024, were quick to exit, causing substantial outflows from these funds. Analysts pointed out that this bull cycle, unlike previous ones driven by technological innovations like DeFi or smart contracts, was primarily fueled by narratives—such as Trump's pro-crypto policies and MicroStrategy's corporate treasury model—rather than fundamental advancements. This lack of substantive innovation made the market's high valuations particularly vulnerable when macro conditions shifted. The event is seen as a brutal end to the old "narrative-driven" era of crypto, forcing the market to seek real value anchors. While some funds have begun bottom-fishing, the short-term outlook remains bleak, with Bitcoin struggling to recover from its lows around $68,000.

marsbit02/09 06:08

ASTER – Traders, look out for THIS threat despite 53% rally in 3 days

Aster's price experienced a 53.85% rally in three days after hitting a low of $0.403, yet the 1-day chart structure remains bearish. Key resistance levels are at $0.725 and $0.656. A significant token unlock of 78.11 million ASTER (worth $44.49 million) is scheduled for February 17, which could lead to selling pressure despite not being immediately sold. Traders are advised to consider selling the bounce, targeting the $0.73–$0.74 zone where liquidity is clustered. Downside targets are at $0.53, $0.46, and eventually the $0.405 low. The overall trend is bearish, reinforced by moving averages and the A/D indicator showing selling pressure.

ambcrypto02/09 03:02

The Real Reason for the "February 5th Crash": A Case of Collateral Damage from Wall Street Deleveraging

On February 5th, the crypto market experienced a sharp crash, with Bitcoin briefly plummeting to $60,000 and over $2.6 billion in liquidations. The article argues that the sell-off was not driven by crypto-native factors but by a broader Wall Street deleveraging event, likely originating from multi-strategy hedge funds facing extreme losses in software stocks and other risk assets. Key evidence includes record-high trading volumes in Bitcoin ETFs like IBIT, dominated by put options, and unusually high correlation between Bitcoin and software stocks. Forced deleveraging triggered the unwinding of delta-neutral strategies (such as basis trades), causing a violent, cascade-like sell-off. This was exacerbated by negative gamma dynamics in the options market, where dealers were forced to aggressively sell underlying assets as volatility spiked. Despite the steep decline, Bitcoin ETFs saw net inflows—not outflows—suggesting the selling pressure came from paper/financial system positioning (e.g., hedge fund liquidations and dealer hedging), not long-term investor redemptions. The rebound on February 6th further indicated that traditional market-neutral capital re-entered to capture renewed basis trade opportunities. The author concludes that the crash was a result of accidental contagion from traditional finance deleveraging, not a crypto-specific crisis, and expects a strong rebound given Bitcoin’s deeper integration into global capital markets.

marsbit02/09 03:00

Crypto Morning Brief: New Virtual Currency Regulations Introduced, Major Unlocks for AVAX, APT, STRK, and Other Tokens This Week

Cryptocurrency Daily Digest: Key regulatory and market developments occurred. China's central bank and seven other ministries jointly issued a notice explicitly banning all virtual currency transactions and Real World Asset (RWA) tokenization businesses, declaring such activities illegal financial operations. In other news, the White House will hold its next stablecoin policy meeting next Tuesday. Illinois proposed a state-operated Bitcoin reserve program. Michael Saylor hinted at potential Bitcoin purchases by MicroStrategy following his social media post. Significant token unlocks are scheduled this week: AVAX ($15.2M unlock on Feb 11), APT ($12.3M on Feb 10), STRK ($6.3M on Feb 15), among others. Additional updates include: 21Shares filed for an Ondo ETF, Bithumb announced full compensation for a major BTC distribution error, and Li Bin denied rumors about investment and token sales. The Nikkei 225 index surged 4%. Market analysts suggest potential consolidation among Solana treasury firms amid current conditions.

marsbit02/09 01:22