<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDIvMDE5YzM3YmItMmM2NC03NzBlLWE0YWMtYTI0N2Y1ZGIyYWFmLmpwZw==.jpg" alt="What crashed Bitcoin? Three theories behind BTC's trip below $60K" class="type:primaryImage"></p><p>Hong Kong hedge funds’ leveraged BTC price bets are emerging as the main trigger behind Bitcoin’s sharp month-long sell-off.</p>