Bitcoin Holders Now Doing Loss-Taking: Sign That A Turnaround Is Near?
Summary
Bitcoin investors have stopped taking net profits, indicated by the Daily Realized Profit Loss Ratio falling below 1. This ratio compares profits to losses from Bitcoin sales. It has been consistently above 1 for the past year due to price appreciation. However, with the ratio now dipping below 1, loss-taking is increasing, potentially signaling the end of a consolidation period. The current ratio of 0.66 suggests that further loss-taking may occur before a new rally begins. Bitcoin's price remains around $58,400.
