Crypto Market: Profit Levels Signal Potential Opportunities, Close Watch On ETH, BTC, XRP

As of the latest data, the XRP Ledger, Ethereum, and Bitcoin are all witnessing profit levels above 80%, a scenario not seen since March ’22. 

The current supply in profit for Bitcoin stands at 83%, Ethereum at 84%, and XRPLedger at 81%. Historically, these levels are considered high-risk profit zones, notably surpassing the typical 55%–75% range observed since 2018. 

💰 #Bitcoin (83%), #Ethereum (84%), and #XRPLedger (81%) have their respective supplies in historically high risk profit levels compared to their averages that hover in the 55%-75% range dating back to 2018. #Crypto can absolutely still climb due to more exposure from pic.twitter.com/ADmMcl5zhO

— Santiment (@santimentfeed) January 18, 2024

The persistent exposure from ETFs and positive market developments could contribute to further crypto market growth. However, a potential dip below the 75% profit threshold would be a noteworthy signal, suggesting ongoing long-term development.

Whales Acquires Massive Profits Capitalizing On Market Movement

In the midst of these promising indicators, a strategic whale capitalized on market movements, securing a $13.3 million profit by trading both Ethereum (ETH) and Bitcoin (BTC), as reported by Lookonchain.

A smart whale made ~$13.3M by trading $ETH and $BTC!

This whale spent 30M $USDC to buy 8,683 $ETH($14.5M) at $1,671 and 541 $WBTC($15.5M) at $28,616 on Sept 14, 2022 and Mar 23, 2023.

Then sold all $WBTC and $ETH in the past month for ~$43.3M.https://t.co/ueXey8zAyD pic.twitter.com/Xwwn9G8dMF

— Lookonchain (@lookonchain) January 18, 2024

This savvy investor initially invested 30 million USDC to acquire 8,683 ETH (valued at $14.5 million) at an average price of $1,671 on September 14, 2022, and 541 WBTC (amounting to $15.5 million) at $28,616 on March 23, 2023. 

In a strategic move, the whale recently liquidated all WBTC and ETH holdings in the past month, generating a substantial profit of $43.3 million.

As the crypto market continues to evolve, closely monitoring profit levels and strategic moves by influential investors provides valuable insights for market participants. The recent profit levels, combined with successful trading strategies, underscore the dynamic nature of cryptocurrency markets and the potential for strategic gains.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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