Analysis: Bitcoin Falls Below the $100,000 Mark as Institutional Funds See Large-Scale Outflows

Jinse Finance reported that Bitcoin further fell below the $100,000 mark after a wave of risk aversion swept the market, causing investors to withdraw nearly $900 million from funds investing in the token. According to data from CoinGecko, the crypto market remains under pressure. Data from CoinGlass shows that liquidations are still ongoing, with over $1 billion in leveraged crypto bets wiped out in the past 24 hours. Max Gokhman, Deputy Chief Investment Officer at Franklin Templeton Investment Solutions, stated: "The current sell-off is entirely correlated with other risk assets, but given the higher volatility of cryptocurrencies, the magnitude is also greater." He believes: "Until deeper institutional participation expands beyond Bitcoin and Ethereum, the beta value of cryptocurrencies to macro risks will remain high." In the options market, traders are increasingly positioning for volatility. According to Nick Ruck, an analyst at LVRG Research, demand for neutral strategies such as straddles and strangles is rising.