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$93,994.00 -1.49144
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Ethereum
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$1,783.89 -2.29358
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BNB
BNB (BNB)
$597.28 -1.11551
BNB price
Solana
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$145.45 -2.96646
Solana price
XRP
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$2.19 -4.67941
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Shiba Inu
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$0.0000132 -3.83915
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dogwifhat
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Popcat
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$93,994.00 -1.49144
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Ethereum
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$1,783.89 -2.29358
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BNB
BNB (BNB)
$597.28 -1.11551
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Solana
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$145.45 -2.96646
Solana price
XRP
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$2.19 -4.67941
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Shiba Inu
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$0.0000132 -3.83915
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Pepe
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Bonk
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dogwifhat
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$0.601681 -2.14639
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Popcat
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$0.378949 -1.02685
Popcat price
Bitcoin
Bitcoin (BTC)
$93,994.00 -1.49144
Bitcoin price
Ethereum
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$1,783.89 -2.29358
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BNB
BNB (BNB)
$597.28 -1.11551
BNB price
Solana
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$145.45 -2.96646
Solana price
XRP
XRP (XRP)
$2.19 -4.67941
XRP price
Shiba Inu
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$0.0000132 -3.83915
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 -3.45043
Pepe price
Bonk
Bonk (BONK)
$0.0000189 -7.71517
Bonk price
dogwifhat
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$0.601681 -2.14639
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Popcat
Popcat (POPCAT)
$0.378949 -1.02685
Popcat price

Bitcoin short-term holders in profit as the ratio reaches to two-year high

Yana Khlebnikova
Edited by
News
Bitcoin short-term holders in profit as the ratio reaches to two-year high

Bitcoin (BTC) rose from $16,500 to the current price of $21,130 in the first 17 days of 2023. While investors might be excited about the recent bullish momentum, the on-chain intelligence platform Santiment expects a “short-term price reversion.”

Per Santiment, as the macroeconomic situation still shows signs of fluctuation, investors must be cautious about cryptocurrencies since the asset class is liquidity-driven.

“I would be cautious with how far we get before the macroeconomic environment state settles itself.”

NeuroInvest, Santiment analyst

The analyst states that the short-term altcoin rally has been showing signs of overheating while the long-term holders are still sticking to their assets. 

https://twitter.com/santimentfeed/status/1615042513148182529

Moreover, Santiment data suggests that the profit ratio for the flagship cryptocurrency, bitcoin, reached an almost two-year high level of 1.09 — which was previously noticed in February 2021. For the second-largest digital currency, ethereum (ETH), the numbers reached a 15-month high of 1.34 — which was seen in October 2021.

https://twitter.com/santimentfeed/status/1615110264264994816

Santiment believes traders are taking this opportunity to profit while given a chance.

The on-chain analytics provider CryptoQuant is also expecting a bear trend as the BTC reserves on spot exchanges saw a rally. Data shows investors have been transferring their assets from cold wallets to spot exchanges for profit taking.

https://twitter.com/cryptoquant_com/status/1615235721274564609

As the selling pressure is hiking, the stablecoin reserves show signs of a drop, per CryptoQuant data. This movement could mean a short-lived recovery rally since more demand is needed for the rally to be sustainable.

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