Bitwise's Jeff Park Links Bitcoin’s Slide to $60,255 with Institutional Risk Controls

Bitwise advisor Jeff Park has argued that Bitcoin’s sharp fall to an intraday low of $60,255 was largely driven by institutional risk management and hedge fund deleveraging. He says multi-strategy funds holding Bitcoin ETFs were forced to unwind positions as volatility and margin pressures rose, triggering aggressive selling. Park adds that implied volatility reaching 75% marks a stress point but may ultimately clear leverage ahead of a potential rapid rebound.