Santiment analysts report mass profit taking by bitcoin traders
The first cryptocurrency shows the highest profit-take ratio since February 2021
17.01.2023 - 10:00
523
2 min
0
What’s new? Experts at analytics firm Santiment noted that traders are locking in profits “while given the chance.” According to their observations, bitcoin shows the highest profit-take ratio since February 2021. For Ethereum, it is the highest since October 2021. As of January 17, 10:15 UTC, BTC is trading at $21 150 (+1,4 per day) and ETH is $1564 (+0,9%), according to Binance.
What other data is known? According to analytics platform IntoTheBlock, 56,65% of accounts with open positions on BTC are shorting on the Binance crypto exchange.
Bloomberg analysts noted a 25% rise in BTC and said that FOMO (fear of missing out) is likely to affect further market movements. Bitcoin’s relative strength index is at a two-year high, which may indicate local overbought conditions.
The relative strength index (RSI) is a metric that reflects the strength of a trend.
Overbought is a market condition when the price of a trading asset has gone too high. Oversold indicates an excessive price decrease.
On January 15, the Crypto Market Fear & Greed Index (F&G) rose to 52 for the first time since April 2022. That means investor sentiment has shifted into neutral territory, probably helped by the rise in the bitcoin rate.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 082
BTC
+1.21%
-
Ethereum
$3 488.83
ETH
+5.01%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.47
XRP
+9.08%
-
Dogecoin
$0.425644
DOGE
+4.65%
-
Cardano
$1.04
ADA
+5.68%
-
Stellar XLM
$0.512542
XLM
-2.28%
-
Polkadot
$8.91
DOT
+6.97%
-
Bitcoin Cash
$524.17
BCH
+7.3%
-
Litecoin
$97.54
LTC
+4%