Everyone has a pet theory as to why bitcoin crashed: regulation, "whales" selling large volumes at once, institutional investors, Futures trading, etc.
What's the real reason? It's probably a combination, and almost certainly more complicated that solely "bitcoin futures."
- Unregulated system for whales
- already being considered a dirty currency by multiple Govs
A whale can short, influence laws and create fud. The futures market made it so people can have interest in it falling not just hope for more rising. Theres a very legitimate reason why futures market changed the dynamic
Besides, futures trading has existed a long time on chinese platforms before CME and CBOE joined the party.
It really is a waste of time to speculate why bitcoin price is going up or down on such timescale.
Maybe the futures will have some impact, but I wouldn't be surprised if in hindsight it will turn out that futures didn't have any impact at all.