Viewpoint: Bitcoin Volatility and Open Interest Drop Indicate Traders are Adopting a Wait-and-See Approach

BlockBeats News, February 21st, Bitcoin traders are taking a wait-and-see attitude as demand weakens, blockchain activity lacks momentum, and inflows slow. Their attitude is reflected not only in the decreasing volatility but also in a significant drop in open interest.

“The market is currently in a cooling-off period,” said David Gogel, Vice President of Strategy and Operations at the dYdX Foundation. “Bitcoin has remained resilient, but after failing to break $105,000 in January, we have seen a slowdown in inflows, and speculative assets like meme coins have taken a hit.” (CoinDesk)