3 key metrics and disinterest from pro traders hint at Bitcoin price sell-off
Bitcoin price is chasing another 2020 high but top traders refusing to open longs is a bearish signal. For novice traders, FOMO can be a heavy burden to bear. Resisting the urge to buy Bitcoin (BTC) after a nearly 15% rally, which saw the price break both the $12K and $13K levels in less than 24 hours, is almost impossible.Professional traders are more experienced and know precisely how to play these FOMO-inducing situations. As data has shown, they were mostly adding shorts up to October 20, right before the $12K rupture.BTC futures aggregate liquidations. Source: Coinalyze.netMost....
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Predicting the bitcoin bottom is something that is done with much fervor by investors in the space since it often means more profit if they can accurately catch the bottom. It often proves to be a difficult task but using blockchain metrics can provide some guidance. Presently, these blockchain metrics have fallen to new lows, […]
Several key metrics hint at a Bitcoin price pullback, but this may be offset by other conflicting factors. A pullback in the price of Bitcoin (BTC) is likely, based on several on-chain data points, namely the Spent Output Profit Ratio (SOPR) indicator, stablecoin inflows, stacked sell orders at $19,000, and the Crypto and Fear Index. However, the question remains when that correction would occur.Profit-taking pullback possible with lower buy pressureThe SOPR indicator essentially gauges how profitable Bitcoin holders are at the moment. When the SOPR is high, BTC is at risk of a....
Afraid Bitcoin price might crash? These three key metrics help traders spot bullish and bearish sentiment in the crypto market. For the past week, Bitcoin (BTC) price has been flirting with the $20,000 mark, which has led some traders to lose their patience. In the eyes of some traders, the lack of bullish momentum is problematic, especially considering that BTC tested the $16,200 level roughly a week ago.Experienced traders know that there are key indicators that serve as telling signs of a trend reversal. These are volumes, the futures premium, and top traders' positions at major....
As the most recent bitcoin price rally demonstrates, assessing on-chain data like bitcoin supply profit/loss metrics can be helpful for traders.
On-chain data shows the Ethereum sharks and whales have continued to sell for four months now, a sign that the asset may not recover soon. Ethereum May Not Be In The Best Situation Right Now In a new insight post, the on-chain analytics firm Santiment has looked into how the various metrics related to Ethereum look like at the moment to get hints about the asset’s future outcome. First, the analytics firm has discussed the asset’s “transaction volume,” that is the daily total number of tokens that are being transferred on the network. Here is a chart that shows the....