ChainCatcher news, according to CoinDesk, Kraken's derivatives head Alexia Theodorou stated that crypto traders are buying Bitcoin on Kraken as its price has dropped to a three-month low. Bitcoin has fallen below $88,000, while Nasdaq futures indicate that Wall Street's risk-averse sentiment continues, with the yen, as a safe-haven currency, and commodity currencies like the Australian dollar, which are sensitive to growth, remaining strong.The decline in BTC occurred after Binance futures saw an increase of $1 billion in open contracts on Monday evening, likely due to traders anticipating further price drops and establishing short positions. However, bottom-fishing buyers have purchased BTC through Kraken, pushing the long-to-short ratio of perpetual contracts to a record 0.8. This suggests that traders may be expecting a rebound and are "buying the dip."