Traders Sell ETH and BTC at Loss, Will the Coins Bottom be Revealed
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- Santiment has noticed that BTC and ETH traders are selling at a loss instead of profits.
- BTC is priced at $23,441.23 with a surge of 1.08% in just 24 hours, at reporting time.
- Indicators give out a sign of consolidation for BTC.
Investigating the transaction volume, Santiment, a market intelligence platform, has noticed that BTC and ETH traders are selling at a loss instead of profits this week. The market intelligence platform also points out that this is the first time it’s happened since the beginning of the new year.
Santiment further commented that when the traders exit their position at a loss, new bottoms are likely to form. When looking at Santiment’s chart, it seems that BTC might form support at 19K based on the BTC Ration of daily on-chain transaction volume in profit and loss.
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