Crypto-Native Traders, Not TradFi, Drove Bitcoin’s Largest Deleveraging Event

The recent largest deleveraging event in the Bitcoin market was primarily driven by crypto-native traders rather than traditional finance (TradFi) institutions, highlighting the significant influence and impact that dedicated cryptocurrency investors and participants have within this space. This shift underscores the unique dynamics of the digital asset landscape, where the motivations and strategies of those deeply embedded in the crypto ecosystem can have a more pronounced effect on market movements than the strategies employed by conventional financial entities. source: https://www.coindesk.com/markets/2025/10/15/crypto-native-traders-not-tradfi-drove-bitcoin-s-largest-deleveraging-event