Bitcoin profit-to-loss ratio hits 2.95, signals local price top
Bitcoin profit-taking spiked. On-chain shows a 12-week high in profit transfers, a pattern Santiment says often precedes local tops.
The profit-to-loss transfer ratio on the Bitcoin network jumped to 2.95, per Santiment. Nearly three profit-taking transactions for every loss-taking one. This is the highest level in about 12 weeks according to Santiment’s X post.
“Historically, this has been a short-term price top signal,” the firm noted in the same post.
Social mood flipped bearish into the weekend. Santiment’s Positive/Negative Sentiment ratio fell to 0.81, the most fearful reading in five weeks per Santiment’s X post.
“Remember that markets typically move the opposite direction of the crowd’s expectations,” Santiment added in its note.
