5000 $BTC 真卖了？🤔「爆仓 2.3 亿美元的 1011 巨鲸」过去 6 小时向 #Binance 充值了 5000 枚 BTC（价值 3.5 亿美元），5 分钟前从币安提出 5500 万枚 USDC，所以这是部分 BTC 已经卖掉了？钱包地址 https://t.co/5YdnPIG8hc本文由 @Gate_zh 赞助 |上 Gate App 抢黄金 https://t.co/OdYhzc3n4e https://t.co/rM2mmtfyzt 
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5000 $BTC Really sold? 🤔 The "1011 whale" that liquidated $230 million deposited 5000 BTC (worth $350 million) into #Binance in the past 6 hours, and withdrew 55 million USDC from Binance 5 minutes ago, so some of the BTC has already been sold? Wallet address https://t.co/5YdnPIG8hc本文由 Sponsored by @Gate_zh | Grab gold on the Gate App https://t.co/OdYhzc3n4e https://t.co/rM2mmtfyzt
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A blockchain novelist who cares about the weather, food, and stories. @ai_9684xtpa

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

Renowned crypto investor Jack Yi used Aave revolving lending to build a $2 billion ETH position, only to see it crumble during the market crash [...]
The article, "Yi Lihua Completely Sells Off ETH! Trend Research Sells 650,000 Ethereum in a Week, Losing $730 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Yi Lihua completely liquidated his ETH holdings! Trend Research reportedly sold 650,000 Ethereum in a week, incurring a loss of $730 million before exiting the market.

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 sharp drop, 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. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]