Bitcoin Traders 'Buy the Dip' as BTC Price Slips Below $88K, Kraken Says

Quick Summary:

Traders are buying the dip, lifting the perpetual futures long-short ratio, Kraken's Alexia Theodorou told CoinDesk.

This could potentially leave the market vulnerable to further downside moves, possibly in the shape of a long squeeze, in the near-term," Theodorou said.

This suggests traders could be anticipating a rebound and effectively 'buying the dip.

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Article Details

Author / Journalist: Omkar Godbole

Category: Crypto

Markets: United StatesAustraliaCuba

Topics: Markets Bitcoin Kraken

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-25 @ 10:36:56 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 285 words

Reading Time: 2 minutes read

Sentences: 23 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 26431515

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