Analysts: Bitcoin's resilience may be due to hedge funds prioritizing deleveraging and shorting.

Analyst Jiang Jinze pointed out that the reason Bitcoin remains strong while U.S. stocks are experiencing a big dump may be due to hedge funds reducing leverage; hedge funds have been net short positions on BTC for a long time, and during this typical margin call night in the last two days, gold may be sold to cover margin, which leads to stagnation in rise and escalating conflict expectations while gold falls; and the positions of leveraged funds on BTC are actually already profitable positions like gold, which will inevitably be prioritized for closure to reduce leverage.