Understanding Bitcoin's Drop: Three Theories Explained

The recent decline in Bitcoin's value, which saw it plummet below the $60,000 mark, has sparked various theories regarding the driving forces behind this significant downturn. One of the primary culprits identified is the aggressive leveraged Bitcoin investments made by hedge funds in Hong Kong.

This month-long sell-off in the cryptocurrency market has raised concerns among investors, leading to discussions about the potential implications of such high-leverage positions. Analysts suggest that this could be a critical factor contributing to the extreme volatility that Bitcoin has experienced lately.