Crypto analytics firm Santiment says recent Bitcoin (BTC) data contains mixed signals that could be cause for concern on the price charts.
According to a new post, the market intelligence company сугерише that the uptick in wallets which hold between 100 and 10,000 Bitcoin is a bullish indicator from wealthy investors.
“The amount of Bitcoin addresses holding between 100 to 10,000 BTC ($2.3 million to $233 million) has reached its largest quantity since June 11th.
We look to this tier of large addresses as confidence from large active holders, and this increase is encouraging.”
Следећи сантимент понуде a counterbalance, noting that recent increased profit-taking by Bitcoin holders could prompt a price drop. The firm also notes that Ethereum (ETH) sales volume has in contrast returned to moderate levels.
“Bitcoin is staying relatively flat at $23,400, but its profit-versus-loss transaction ratio is creeping up to ‘yellow flag’ levels.
Meanwhile, Ethereum is finally outputting a much safer ratio this week after some very heavy profit taking in early August.”
At time of writing, Bitcoin is off by less than a percent and trading for $23,173.
Сантимент такође указује на chatter on social media leading up to Ethereum’s mid-September transition to a proof-of-stake mechanism as a historical marker of short-term price peaks.
“The ETH Merge discussions have been understandably heating up, and August 11th was when this topic really spiked after a date was announced.
Throughout the past year, the relative largest spikes in this topic have marked approximate local ETH price tops.”
The analytics firm takes a дубље заронити into Ethereum’s social dominance in its weekly newsletter as it warns of a possible blow-off top.
“It almost seems like everyone and anyone is in this very obvious speculative play.
As we draw closer, it’s very likely we see yet another spike in ‘merge’ social dominance and similar price action (alts dropping, ETH rising) as late comers pile in whatever they have to ride it, which eventually increase the chance of things leading to a blow-off top.”
Ethereum is up a fraction on the day and is changing hands for $1,842.
Не пропустите ни један ударац - Пријавите се да бисте добили крипто имејл упозорења која се достављају директно у вашу пријемну пошту
Проверити Цена акција
Пратите нас на Twitter, фацебоок Telegram
Сурф Даили Ходл Мик
Изјава о одрицању одговорности: Мишљења изнета у Даили Ходлу нису савети за улагање. Улагачи би требали обавити своју дужну опрему прије него што уложе у високе ризичне инвестиције у битцоин, крипто валуту или дигиталну имовину. Имајте на уму да су ваши трансфери и трговине на сопствени ризик, а за све губитке који могу настати одговоран сте. Даили Ходл не препоручује куповину или продају било које крипто валуте или дигиталне имовине, нити Даили Даили Ходл није саветник за инвестирање. Имајте на уму да Даили Ходл учествује у аффилиате маркетингу.
Истакнута слика: Схуттерстоцк / Арт Фурнаце
Source: https://dailyhodl.com/2022/08/19/bitcoin-btc-is-flashing-yellow-flag-as-prices-move-sideways-warns-crypto-analytics-firm-santiment/