Bitcoin’s Stalled Rally
Despite the recent halving event, Bitcoin’s price has remained stuck in a narrow range. Investors are growing impatient and calling for a sell-off.
Increased Sell Calls on Social Media
According to Santiment, social media posts about selling Bitcoin have spiked. This indicates a shift in sentiment, with bearish calls outweighing bullish ones.
High Profitability: A Cautionary Signal
Nearly 90% of Bitcoin in circulation is in profit. While this suggests strong investor confidence, it can also be a sign of overbought conditions.
Potential for Price Correction
The high profitability level raises concerns that Bitcoin may experience a price correction in the coming weeks.
Conclusion
While the surge in sell calls suggests investor frustration, it’s important to note that these sentiments can often precede market rebounds. Investors should carefully consider the potential risks and rewards before making any trading decisions.
