Ever tried.
Ever failed.
No matter.
Try again.
Fail again.
Fail better.
- Samuel Beckett

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Changpeng Zhao revisits a familiar phrase during another deep Bitcoin correction, while rejecting claims that Binance fueled the market slide.
Key Points
Changpeng Zhao tweeted “Poor again,” referenci...

Binance Founder Tweets ‘Poor Again’ as Bitcoin Revisits $60,000

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Author: Jeff Park
Compiled by: TechFlow TechFlow
TechFlow Dive: In this lengthy article, Jeff Park, advisor at Bitwise and chief investment officer at ProCap, analyzes the true reasons behind Bitcoin's 13.2% plunge on February 5th. He argues that this wasn't a fundamentally driven sell-off, but rather a technical chain reaction of collapses triggered by deleveraging in traditional multi-strategy funds and amplified by short-selling gamma in the options market. The most crucial data: IBIT's trading volume broke a record, exceeding $10 billion that day, but ETFs...