See original
CRYPTO TV XCHANGE
--
Bullish
80% of #litcoin Investors in the Green: Is an LTC Sell-Off Next?
80% of LTC investors in profit may trigger a sell-off, increasing market pressure.
Extreme greed indicators and waning demand point to a potential retracement to $119.
Nearly 80% of Litecoin (LTC) investors are now in profit—the highest level recorded since 2021—driven by a remarkable rally. This aligns with a recent LTC price prediction shared in a previous CNF update, suggesting that Litecoin could soar 1000% by 2025.
On December 1, LTC inflows significantly exceeded outflows, with 258.34k LTC entering exchanges compared to 164.27k leaving, further indicating active selling. Over the past week, LTC surged by an impressive 40%.
As of today, according to CoinMarketCap data, LTC is trading at $128.90, reflecting a 3.11% decrease in the last 24 hours and a 36.54% gain over the past week. See the LTC price chart below.
This strong upward momentum has drawn comparisons to XRP’s recent surge, raising hopes for continued growth even in the absence of a broader altseason.
Profit-Taking Looms Over the Market
While the bullish momentum excites the community, it also raises concerns about a potential sell-off. Historically, when most investors are in profit, they often cash out, increasing selling pressure.
However, Glassnode data shows Litecoin’s net position change has been in the red for weeks, signaling consistent profit-taking.
80% of LTC investors in profit may trigger a sell-off, increasing market pressure.
Extreme greed indicators and waning demand point to a potential retracement to $119.
Nearly 80% of Litecoin (LTC) investors are now in profit—the highest level recorded since 2021—driven by a remarkable rally. This aligns with a recent LTC price prediction shared in a previous CNF update, suggesting that Litecoin could soar 1000% by 2025.
On December 1, LTC inflows significantly exceeded outflows, with 258.34k LTC entering exchanges compared to 164.27k leaving, further indicating active selling. Over the past week, LTC surged by an impressive 40%.
As of today, according to CoinMarketCap data, LTC is trading at $128.90, reflecting a 3.11% decrease in the last 24 hours and a 36.54% gain over the past week. See the LTC price chart below.
This strong upward momentum has drawn comparisons to XRP’s recent surge, raising hopes for continued growth even in the absence of a broader altseason.
Profit-Taking Looms Over the Market
While the bullish momentum excites the community, it also raises concerns about a potential sell-off. Historically, when most investors are in profit, they often cash out, increasing selling pressure.
However, Glassnode data shows Litecoin’s net position change has been in the red for weeks, signaling consistent profit-taking.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
177
0
Replies 0