bitcoin, It faced strong selling pressure after the spot ETF approval and fell to $41,000.
BTCWhile there were sharp declines in , altcoins remained stronger compared to Bitcoin.
Even after Bitcoin ETFs spot Ethereum ETF increased expectation of approval ETH and some altcoins had made it rise.
Making an evaluation at this point, Santiment said, Bitcoin, Ethereum and XRPreported that is currently exhibiting historically high risk profit levels.
Stating that these figures exceed the average range of 55%-75% dating back to 2018. centimeterHe said that although ETH shows bullish potential due to increased risks and positive news from ETFs, the profitability level must fall below 75% for there to be sustainable long-term growth in ETH, BTC and XRP.
At this point these levels BTC, ETH and XRP It was stated that it could be interpreted as a correction signal for
“Bitcoin (83%), Ethereum (84%) and XRP (81%) supplies are at high-risk profit levels. These levels have exceeded the average 55%-75% range dating back to 2018.
But cryptocurrencies could certainly still rise due to greater exposure.”
💰 #Bitcoin (83%), #Ethereum (84%), and #XRPLedger (81%) have their respective supplies in historically high risk profit levels compared to their averages that hover in the 55%-75% range dating back to 2018. #Crypto can absolutely still climb due to more exposure from pic.twitter.com/ADmMcl5zhO
— Santiment (@santimentfeed) January 18, 2024
*This is not investment advice.
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