Tencent Finance: A Hong Kong-based fund started buying the dip on February 6 after the crypto market plummeted.

DeepFlowTech · 2026-02-09T04:52:13+00:00

Tencent Finance "Periscope" reports that the cryptocurrency market has recently plummeted, possibly due to the flash crash in silver and gold prices. High-net-worth clients are beginning to redeem their crypto assets, but optimists believe this winter could end relatively quickly, with no major companies or wealthy individuals going bankrupt at this time.

DeepFlowTech

2026-02-09 04:52:13

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Deep Tide TechFlow News, February 09 — Tencent Finance’s “Qianwang” published an article today titled “Cryptocurrency Major Collapse: Crypto Veteran Yi Lihua Loses $700 Million in a Week,” which pointed out that several investors in the Hong Kong or Singapore crypto markets believe that the immediate trigger for this market crash was the sudden plunge in silver and gold prices, which further accelerated the decline of cryptocurrencies like Bitcoin. The “four-year cycle” theory in the crypto market remains valid. Additionally, some private banking managers revealed that quite a few high-net-worth clients redeemed their crypto assets over the past week.

Some more optimistic individuals believe that this winter could end faster than in previous cycles. Currently, aside from Yi Lihua, there are no major wealthy individuals or leading companies collapsing or facing crises, nor are there any institutions being accused of violations. Such situations have previously triggered trust crises among investors during past market crashes. It is reported that a fund in Hong Kong began accumulating positions on February 6, with the specific scale still unknown.

BTC-2,66%

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