Internet reports that Bitcoin traders are taking a wait-and-see attitude due to weakening demand, lack of blockchain activity and slowing liquidity inflows. Their attitude is not only reflected in the decline in volatility, but also in the significant decline in open positions. "The market is now in a cooling phase," said David Gogel, vice president of strategy and operations at the dYdX Foundation. "Bitcoin has remained strong, but after failing to break above $105,000 in January, we saw a slowdown in inflows and speculative assets like Meme took a hit."