Bitcoin remains in a state of low volatility, down slightly by 2 per cent this week, according to K33 Research, as risk-averse traders cut yields, volatility and trading volumes to multi-month lows. The overall market performance is subdued, but rarely for long. Vetle Lunde, head of research at K33, pointed out that while the pro-cryptocurrency Trump administration is good for bitcoin and the industry in the long term, short-term uncertainty has kept market activity subdued. The overall risk aversion suggests traders are prepared for downside volatility, while the current moderate level of leverage means the risk of a chain reaction of liquidation is low. Traders should remain cautious until there is a clear signal of direction.