Here's how market makers likely accelerated bitcoin's brutal crash to $60,000

The invisible hands of market makers likely accelerated bitcoin's recent crash. What to know : Bitcoin's drop from about $77,000 to nearly $60,000 was exacerbated not just by macro pressures and ETF selling, but also by how options market makers hedged their positions. Options market makers were heavily short gamma between $60,000 and $75,000, forcing them to sell bitcoin in spot and futures markets as prices fell, which intensified the decline.