Analysis: The recent pullback in the crypto market may be influenced by traditional financial factors, not industry-specific issues

BlockBeats News, February 11th. According to CoinDesk, several industry insiders pointed out that the recent cryptocurrency market downturn is a "traditional financial event" rather than an "industry crisis." As the yen interest rate rises, borrowing costs increase, and increased volatility leads to higher margin requirements. For example, the margin for metal trading increased from 11% to 16%, forcing some traders to close positions. This has created downward pressure on cross-market risk assets, not limited to crypto assets.

Despite active trading of Bitcoin ETFs during the market downturn, industry insiders believe this does not indicate a full-scale institutional exodus. Emma Lovett, Head of DLT Credit at JPMorgan Markets, stated that the more relaxed U.S. policy environment is driving experiments from private chains to public chains and stablecoin settlements. It is expected that by 2026, the integration of traditional finance with crypto infrastructure will further deepen.