X @Wu Blockchain

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 that a large fund liquidation was involved. Some pointed to losses from ETF-based volatility strategies, while others suggested a TradFi player unwinding cross-asset positions. However, industry insiders report no evidence of a major crypto fund collapse, and current data points more to macro pressure ...