Bitcoin – Market Volatility Continues. 15-month low.
Bitcoin traded lower on Tuesday, extending Monday’s losses making a new 15-month low. According to data compiled by DailyFX. Traders continue to reduce their exposure to the BTC, while the number of those betting against bitcoin is on the rise.
“Retail trader data shows 70.1% of traders are net-long with the ratio of traders long to short at 2.35 to 1. The percentage of traders net-long is now its lowest since Nov. 28 when bitcoin traded near $4,200.66,” wrote Nancy Pakbaz, analysts at DailyFX.
The number of traders net-long is 1.6% lower than yesterday and 2.7% lower from last week.
While the number of traders net-short is 14.0% higher than yesterday and 21.4% higher from last week.”