Analytics Firm Issues Alert, Says Bitcoin and Ethereum Witnessing Highest Profit-Taking Level in Over a Year

Analytics Firm Issues Alert, Says Bitcoin and Ethereum Witnessing Highest Profit-Taking Level in Over a Year


New data from crypto analytics firm Santiment suggests that traders may believe the top two leading digital assets by market cap are about to find their local tops.

According to Santiment, crypto traders are taking profits on Bitcoin (BTC) and Ethereum (ETH) at the highest levels seen since 2021.

“Are crypto markets seeing a top? Traders are behaving like they believe so, taking this opportunity to profit take while given the chance. Bitcoin is seeing its highest profit ratio since Feb 2021. For Ethereum, it’s the highest since Oct 2021.”

Trending: BREAKING: Brunson Brothers Case Is Back On!

Source: Santiment/Twitter

Crypto analytics firm Glassnode also notes that the king crypto has seen a greater volume of profits realized on-chain compared to losses for the first time since June.

“During bear cycles, this tends

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