- Traders are behaving like the market has reached a top.
- Bitcoin is seeing the highest profit transaction ratio since February 2021.
- ETH saw a 0.37% drop in price over the last day.
The market intelligence firm Santiment took to Twitter earlier today to share some insights about the behavior of traders in the current market conditions. According to the post, traders are behaving like the market has reached a top as they are taking this opportunity to take their profits while they believe they still have a chance.
In addition to this, Santiment added that Bitcoin (BTC) is seeing the highest profit transaction ratio since February of 2021. For Ethereum (ETH), it is the highest it has been since October of 2021.
According to CoinMarkeCap, BTC is currently trading hands at $21,094.73 after a 0.06% drop in price over the last 24 hours. The crypto king is, however, still in the green by more than 22% over the last week.
BTC was also able to strengthen against its biggest competitor, ETH by about 0.30% over the last day. Also in the green is BTC’s 24-hour trading volume which stands at $23,832,674,962 after a more than 6% increase since yesterday.
ETH is also currently in the red after the altcoin saw a 0.37% drop in price over the last day to now trade at $1,561.53. The altcoin also saw a high of $1,594.04 and a low of $1,529.57 over the same time period. On the other hand, the crypto is still up by more than 17% over the last seven days.
ETH’s 24-hour trading volume currently stands at $8,049,555,084 after a more than 10% increase since yesterday.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
