Bitcoin Breaks Records with Profit-Taking Transfers and Banking Crisis Win.
TL;DR Summary
On-chain data from Santiment shows that the ratio of daily on-chain transaction volume in profit to loss for Bitcoin has spiked to its highest level since December 2020, indicating that profit-taking volume is around 2.4 times more than loss-taking volume. This surge in profit-taking occurred after Bitcoin briefly broke above the $27,000 level. Ethereum's profit-taking volume has also risen significantly in recent days, but it is only observing the highest value of the indicator since the middle of 2023.
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- Bitcoin Surges Higher As Ethereum, Dogecoin Hold Back: A Look At The Technicals Over The Weekend Benzinga
- First Mover Americas: Bitcoin Busts Through $26K CoinDesk
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