CryptoQuant says bitcoin correction could be near as traders’ unrealized profit hits 21-month high
60-second summary
CryptoQuant warns that Bitcoin may experience a near‑term correction because short‑term traders’ on‑chain unrealized profit margin has surged to a 21‑month high, indicating excessive leverage and potential profit‑taking. The metric now sits above historic thresholds that previously preceded price pullbacks, suggesting that heightened speculative pressure could trigger downside volatility across the broader cryptocurrency market.
Bitcoin could face a near-term correction as short-term traders' onchain unrealized profit margin has reached its highest level in 21 months, according to CryptoQuant.