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Alex Dovbnya

Bitcoin Drops From $90,000 to $60,000 as Rumors Swirl Around Multi‑Billion Hong Kong Hedge Fund

A recent update from 10x Research links Bitcoin's sharp fall from $90,000 to $60,000 within a few weeks to heavy institutional flows and unwinding of structured positions. The firm highlighted unusually high trading volumes in BlackRock's IBIT ETF and concentrated Asian-session gains, which have fueled market speculation about distress at a multi-billion-dollar hedge fund based in Hong Kong, while cautioning against blaming a single entity.
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