Pro traders adopt a hands-off approach as Bitcoin price explores new lows
- Bitcoin’s recent 20% drop has put the price at its lowest level in nine months, but this is not unusual compared to other assets.
- Futures market participants are reluctant to open leverage long positions, but this does not necessarily mean that they are bearish.
- Options market traders have been signaling “fear” since April 8, and this has worsened over the past four days.
- Margin traders remain mostly optimistic, according to the USDT/BTC lending ratio.
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