Bitcoin Flashes A Classic Top Signal As Profit Transactions Surge
Bitcoin $BTC closed the weekend with a profit-to-loss transaction ratio of 2.95 to 1 — a historically reliable short-term price top signal, @santimentfeed's latest on-chain data reveals.
The analytics firm warns that when profit-taking transactions heavily outnumber loss transactions, a price correction typically follows. Santiment notes this pattern has played out repeatedly across Bitcoin's market cycles.
The data suggests the current rally may be running out of steam. This comes amid Bitcoin surging above $69,000.
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