CryptoQuant CEO: If BTC does not see a substantial rebound in the next month, the risk of a chain reaction of institutional selling will increase significantly.
PANews reported on February 6th that in response to DeFi Development executive Parker White's view that "the culprit behind today's IBIT crash may be one or more non-cryptocurrency hedge funds based in Hong Kong," CryptoQuant CEO Ki Young Ju responded: "Unless this is a forced sell-off by institutions, it's hard to understand why they would release such a massive amount of Bitcoin all at once. The most worrying thing in the Bitcoin market is precisely this chain reaction of forced sell-offs: as funds are liquidated and prices fall, miners will go bankrupt, and even small investors who held on until the end will have to cut their losses and leave. Frankly, if Bitcoin fails to see a meaningful rebound at its current price within the next month, the risk of a structural, chain reaction of institutional sell-offs will increase significantly. And once institutions choose to surrender at the bottom, they are unlikely to return—rebuilding trust takes a long time."
According to previous reports, a partner at Pantera Capital speculated that the recent sell-off in the crypto market was triggered by large Asian entities .
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