Crypto Quant founder: BTC’s decline is due to sell-off in derivatives market

Ki Young Ju, founder of Crypto Quant, stated on social media that the decline in BTC is due to the sell-off in the derivatives market, not GBTC. The off-exchange trading market is very active but has no impact on prices. When off-chain trading and spot ETF activity decrease, the accumulation for the bull market will begin again.