Crypto analytics firm Santiment highlights an important indicator that could signal the end of the recent rally in the cryptocurrency markets. Details of Santiment’s statements, which warned about Bitcoin, Ethereum and Litecoin …
Bitcoin and ETH predictions from the analyst …
Blockchain and cryptocurrency analytics firm Santiment recently released both Bitcoin (BTC) and He says the profit-to-loss ratio for Ethereum (ETH) is the largest in about six months. Santiment’s comments suggest a correction is on the horizon. The statements made by the company include the following statements:
Bitcoin sees the second largest transaction profit/loss ratio in the last 5 months (2.64 times more in profit). Also, Ethereum has the 2nd highest value in 4 months (3.03 times more profit). These high rates herald corrections.”
Crypto data firm also reveals that there has been a lot of talk about “buying low” on social media amid the pullback of leading cryptocurrency Bitcoin (BTC). Santiment also examines how a significant drop in transaction fees could explain Ethereum’s recent price surge. Santiment comments on this:
Ethereum fees are much more affordable than we’ve seen in the last 8 months. The average gas fee is only $5.81. For comparison, average wages managed to hit $69.57 on May 11, 2021, and $62.85 on November 8, 2021.
How is the situation with Litecoin?
Alongside Bitcoin (BTC), Ethereum is priced at $3,220, down almost 2.18 percent weekly. Finally, Santiment draws attention to the peer-to-peer virtual currency Litecoin (LTC). The market research firm says whales have been swallowing a lot of altcoins lately. In the statement, the following statements are made on this subject:
Litecoin may not be on the radar of many traders at the moment. But it quietly saw the largest daily amount of LTC whale transactions exceeding $100,000 (3,458 transactions) in 2022. In the crypto company’s epic, this was an indicator of medium-term price direction shifts.
According to Coinmarketcap, whose data we follow closely as Cryptokoin.com, Litecoin is down 8.48 percent in a week. The altcoin is trading at $ 113.99, down 0.52 percent in the last 24 hours.
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