OPINION: Decline in Bitcoin Volatility and Open Contract Positions Suggests Traders Are Taking a Wait-and-See Approach
Bitcoin traders are adopting a wait-and-see attitude due to weakening demand, lack of blockchain activity and slowing liquidity inflows. Their attitude is reflected not only in declining volatility, but also in a sharp drop in positions. ‘The market is in a cooling phase right now,’ said David Gogel, vice president of strategy and operations at the dYdX Foundation. ‘Bitcoin has been holding firm, but after failing to break above $105,000 in January, we're seeing a slowdown in inflows and speculative assets like Meme Coin taking a hit.’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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