Massive Profit-Taking Could End Crypto Mini-Bull Run

• Bitcoin (BTC) and Ethereum (ETH) prices have crossed pre-FTX crash levels and are currently rallying in the market.
• However, Santiment data revealed that there is massive profit-taking happening across the two largest cryptocurrencies.
• This could have severe implications for the current mini-bull run being experienced.

As the crypto market continues to heat up, Bitcoin (BTC) and Ethereum (ETH) have both been pushing higher since the prices of the digital assets crossed over into pre-FTX crash levels. This has resulted in a mini bull run for the two largest cryptocurrencies, but this may not last for long.

On-chain data aggregator Santiment recently revealed that there is a significant amount of profit-taking happening across Bitcoin and Ethereum. This is understandable as investors would want to take profit off the top of their investments, especially considering the massive gains that both assets have seen since the start of the year. According to the chart Santiment shared, the level of profit-taking being recorded across Bitcoin and Ethereum has surged to 2021 levels. This means that Bitcoin’s profit-taking rose to February 2021 levels, while Ethereum surged higher to October 2021 levels.

This surge in profit-taking could indicate that investors are expecting the rally to slow down and may not last for long. This could have severe implications for the current mini-bull run being experienced in the crypto market. If holders start to take profits from their investments, it could lead to a sell-off that could cause prices to dip across the market.

It is important to note that this is just speculation at this point and it is impossible to predict what will happen in the crypto market. However, this surge in profit-taking could be an indication that investors are expecting a pullback in the near future. Therefore, it is important that investors remain vigilant and do their own research before making any investment decisions.

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