What The Aggressive Profit-Taking By Bitcoin Investors Means For The Price
Bitcoin crossed $80,000 for the first time in three months over the weekend, but it did not do so quietly. On-chain analytics firm Santiment recorded net realized profits of $207.56 million on Sunday, the highest single-day reading in a month, as holders who had accumulated Bitcoin at significantly lower prices moved their coins into a […]
Related News
On-chain data shows the profit-taking among Cardano investors has spiked to high levels, a sign that the asset may register a decline in the coming days. Cardano Has Observed High Profit-Taking After The Rally According to data from the on-chain analytics firm Santiment, AAVE, ADA, and CRV are among the altcoins that have recently observed the most extreme profit-taking. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name suggests, tells us about how the profit-taking volume of any cryptocurrency compares with....
On-chain data shows that Ethereum traders are capitulating following the slowdown of the rally, something that may turn out to be positive. Ethereum Traders Are Selling At A Loss Right Now According to data from the on-chain analytics firm Santiment, ETH investors are getting increasingly frustrated as they are now participating in significant loss-taking. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name already implies, compares the profit-taking volume to the loss-taking volume for any given cryptocurrency.....
Bitcoin is heavily riding the renewed bullish wave observed across the broader crypto industry, and its price has now reclaimed the pivotal $120,000 price level. Heightened selling pressure from investors and traders seems to have followed the ongoing upward action in BTC’s price. Massive Profit-Taking Frenzy Hits Bitcoin Investors are currently exhibiting a worrying trend […]
As the Bitcoin price declines to $40k, on-chain data shows long-term holders have harvested some profits recently. Bitcoin Long-Term Holder SOPR Shows Some Spikes Recently As pointed out by an analyst in a CrypoQuant post, some BTC long-term holders seem to have participated in profit taking over the past day. The relevant indicator here is the spent output profit ratio (or the SOPR in brief), which tells us about the profit ratio of the whole Bitcoin market. The metric works by checking the past history of each coin being sold on the chain to see what price it was moved at before. If this....
The Bitcoin price could stagnate until early 2021, various on-chain indicators show, as investors could take profit. The Bitcoin price (BTC) reached the $19,400 mark in the past 24 hours, which has served as a critical resistance level since the start of December. However, on-chain indicators show that the dominant cryptocurrency could stagnate or consolidate until early 2021. Although BTC is nearing its all-time high at around $20,000, there are compelling reasons to expect more sideways action.On-chain analysts primarily explore two indicators to gauge the sentiment of an ongoing rally:....