{"id":525963,"date":"2023-04-07T14:00:05","date_gmt":"2023-04-07T14:00:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=525963"},"modified":"2024-06-11T14:34:56","modified_gmt":"2024-06-11T14:34:56","slug":"bitcoin-loss-taking-spikes-why-could-bullish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-loss-taking-spikes-why-could-bullish\/","title":{"rendered":"Bitcoin Loss Taking Spikes, Why This Could Be Bullish"},"content":{"rendered":"

On-chain data shows Bitcoin loss-taking transaction volume has spiked recently. Here’s why this could turn out to be bullish for the asset’s price.<\/p>\n

Bitcoin Loss-Taking Volume Has Been More Than The Profit-Taking One Recently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, traders are currently taking losses at twice the rate of profits. The relevant indicator here is the “ratio of daily transaction volume in profit to loss<\/a>,” which, as its name already suggests, tells us about how the per day Bitcoin profit-taking volume compares with the loss-taking one.<\/p>\n

Something to note is that this metric only measures profits and losses that have been realized (“taken”). This only happens when an investor moves or sells their coins at a price different than what they bought them at. Coins that are carrying some profit or loss, but are yet to be sold, are said to be holding an “unrealized profit\/loss<\/a>.”<\/p>\n

Related Reading: Woes For Bitcoin And Ethereum As Price Weakens, Which Direction Will Prevail?<\/a><\/p>\n

When the value of this metric is positive, it means the profit-taking volumes are currently overwhelming the loss-taking ones. Such a trend suggests that the investors as a whole are realizing some profit with their selling right now.<\/p>\n

On the other hand, a negative value implies that losses are dominating the market currently, and hence, a majority of the holders are participating in loss realization.<\/p>\n

Now, here is a chart that shows the trend in the ratio of daily transaction volume in profit to loss for Bitcoin, as well as for Ethereum<\/a>, over the last few months:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has plunged in recent days | Source: Santiment on Twitter<\/a><\/pre>\n
As displayed in the above graph, the ratio of transaction volume in profit to loss had been highly positive for both Bitcoin and Ethereum just a while back when the prices had been surging.<\/p>\n
This spike in profit-taking made sense as investors generally like to harvest some gains when the price observes rapid growth. Following this profit selling, however, the rally came to a halt and the cryptocurrencies have been mostly consolidating since then.<\/p>\n
Recently, the indicator’s value has plunged for both Bitcoin and Ethereum and for the first time in five weeks, it has turned red. This implies that the holders are now participating in mass loss-taking.<\/p>\n
The plummet has been sharper for BTC, with the metric’s value falling to about -0.45. This value suggests that loss realization is currently happening at a rate almost double that of the profits.<\/p>\n
Related Reading: Bitcoin Older Than 5 Years Abruptly Moves, Bearish Sign?<\/a><\/div>\n
Santiment notes that this trend could actually be a good sign for the asset as it shows the FOMOers who bought at high prices have started to give up on the rally. The coins that these holders are selling may end up in the hands of investors with a stronger conviction, hence providing a more solid bullish foundation.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $27,900, up 1% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has continued to consolidate recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Traxer on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows Bitcoin loss-taking transaction volume has spiked recently. Here’s why this could turn out to be bullish for the asset’s price. Bitcoin Loss-Taking Volume Has Been More Than The Profit-Taking One Recently According to data from the on-chain analytics firm Santiment, traders are currently taking losses at twice the rate of profits. The relevant indicator here is the “ratio of daily transaction volume in profit to loss,” which, as its name already suggests, tells us about how the per day Bitcoin profit-taking volume compares with the loss-taking one. Something to note is that this metric only measures profits and losses that have been realized (“taken”). This only happens when an investor moves or sells their coins at a price different than what they bought them at. Coins that are carrying some profit or loss, but are yet to be sold, are said to be holding an “unrealized profit\/loss.” Related Reading: Woes For Bitcoin And Ethereum As Price Weakens, Which Direction Will Prevail? When the value of this metric is positive, it means the profit-taking volumes are currently overwhelming the loss-taking ones. Such a trend suggests that the investors as a whole are realizing some profit with their selling right now. On the other hand, a negative value implies that losses are dominating the market currently, and hence, a majority of the holders are participating in loss realization. Now, here is a chart that shows the trend in the ratio of daily transaction volume in profit to loss for Bitcoin, as well as for Ethereum, over the last few months: Looks like the value of the metric has plunged in recent days | Source: Santiment on Twitter As displayed in the above graph, the ratio of transaction volume in profit to loss had been highly positive for both Bitcoin and Ethereum just a while back when the prices had been surging. This spike in profit-taking made sense as investors generally like to harvest some gains when the price observes rapid growth. Following this profit selling, however, the rally came to a halt and the cryptocurrencies have been mostly consolidating since then. Recently, the indicator’s value has plunged for both Bitcoin and Ethereum and for the first time in five weeks, it has turned red. This implies that the holders are now participating in mass loss-taking. The plummet has been sharper for BTC, with the metric’s value falling to about -0.45. This value suggests that loss realization is currently happening at a rate almost double that of the profits. Related Reading: Bitcoin Older Than 5 Years Abruptly Moves, Bearish Sign? Santiment notes that this trend could actually be a good sign for the asset as it shows the FOMOers who bought at high prices have started to give up on the rally. The coins that these holders are selling may end up in the hands of investors with a stronger conviction, hence providing a more solid bullish foundation. BTC Price At the time of writing, Bitcoin is trading around $27,900, up 1% in the last week. BTC has continued to consolidate recently | Source: BTCUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":525983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11680,88087,5371,1119,1144],"class_list":["post-525963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-loss-taking","tag-bitcoin-losses","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Loss Taking Spikes, Why This Could Be Bullish<\/title>\n<meta name=\"description\" content=\"On-chain data shows Bitcoin loss-taking transaction volume has spiked recently. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Loss Taking Spikes, Why This Could Be Bullish","url":"http:\/\/ktsl888.com\/news\/bitcoin-loss-taking-spikes-why-could-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-loss-taking-spikes-why-could-bullish\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/04\/traxer-Y2P9q_IQlSU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/04\/traxer-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","bitcoin loss taking","bitcoin losses","btc","btcusd"],"dateCreated":"2023-04-07T14:00:05Z","datePublished":"2023-04-07T14:00:05Z","dateModified":"2024-06-11T14:34:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Loss Taking Spikes, Why This Could Be Bullish\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-loss-taking-spikes-why-could-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-loss-taking-spikes-why-could-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/traxer-Y2P9q_IQlSU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/traxer-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"bitcoin loss taking\",\"bitcoin losses\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-04-07T14:00:05Z\",\"datePublished\":\"2023-04-07T14:00:05Z\",\"dateModified\":\"2024-06-11T14:34:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/04\/traxer-Y2P9q_IQlSU-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/525963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=525963"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/525963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/525983"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=525963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=525963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=525963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}