This bitcoin bear market is different with 'uniquely pessimistic' traders limiting downside, K33 says
CoinDesk·
60-second summary
Bitcoin traders are exhibiting uniquely pessimistic behavior, limiting the potential downside, according to research firm K33. This defensive stance reduces the risk of a leverage-driven collapse, unlike in prior downturns. With traders already being cautious, the market is less likely to experience the same level of volatility and price drops seen in previous bear markets.
The research firm said bitcoin traders remain unusually defensive, reducing the risk of the kind of leverage-driven collapse seen in prior downturns.