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SignalPlus Head: The intensification of multi-strategy hedge fund trading has triggered recent BTC sell-offs, but the market still holds a buy-the-dip sentiment

ChainCatcher news, according to an analysis by SignalPlus head Augustine Fan, the recent sell-off of Bitcoin has been primarily triggered by multi-strategy hedge fund trading that dominates the macro market. These multi-strategy trades include arbitrage, long-short positions, and leveraged operations, aiming to maximize returns across asset classes.In the Bitcoin market, a common multi-strategy trading method is basis trading, which involves buying spot Bitcoin (usually through ETFs) and shorting Bitcoin futures to profit from the price difference. However, when the price difference narrows or the market changes, the profits from basis trading decline, leading to capital exiting positions and concentrated sell-offs of Bitcoin and ETF shares. Fan pointed out that this liquidation pressure has amplified the sell-off over the past week, especially against the backdrop of increased volatility related to tariffs.Nevertheless, the "buying the dip" sentiment still exists in the market. Fan stated that the valuations of stocks outside the major indices remain relatively stable compared to historical averages, and hard economic data may outperform the rapid deterioration of soft data. Therefore, the market generally believes that it is still a "buying the dip" market, expecting to gradually digest the impacts of tariff volatility.

Bybit CEO responds to OIK dumping allegations: will not sell off activity budget for profit, accepts audits from any regulatory authority

ChainCatcher news, Bybit CEO Ben Zhou responded to the concerns regarding the Launchpool project OIK token dump: "The budget for OIK's launchpool activity was a total of 10 million tokens provided by the project party, of which 3.3 million have been distributed, with over 90,000 users participating in the activity. The launchpool is still ongoing and will conclude on March 19, with 5.7 million tokens yet to be distributed.Bybit has never sold off activity budgets for profit; such market manipulation has serious legal consequences, and the budget is all in hot wallets, which can be audited by any regulatory authority. Currently, it appears that there are indeed large holders selling OIK in the market, and the compliance department is investigating the specific details. In the future, we are considering allowing the community to have a more direct view of our budget situation by using independent wallets to receive project budgets, enabling the community to see everything transparently."It is reported that previously some community users raised concerns: "It is inferred that Bybit is using its own Launchpool as a cash machine. The TGE of SpaceNation, which has been built for a year, was a failure. However, over the past three days, the community has gone from outrage to resentment to questioning and investigation, and has collected some evidence. A community sold less than 5% of the project, yet the project party absorbed an abnormal circulation volume within 30 minutes of the opening."
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