Santiment: "As Bitcoin Gives Correction Signal, These Two Altcoins Are in the Opportunity Zone!"

While the leading cryptocurrency Bitcoin rose above $ 44,000 again after the news about the approval of spot Bitcoin ETFs, a $BTC warning came from Santiment.

At this point, looking at the supply/profit ratio, Santiment stated that this ratio gives a warning for $BTC and said that Bitcoin's supply/profit ratio is at 89%.

Stating that this level is a cautious level for Bitcoin as the new year is just around the corner, Santiment drew attention to two altcoins that show signs of rise in the short term while $BTC gives a correction signal.

Santiment stated that these altcoins are Polygon (MATIC) and Litecoin ($LTC) and said:

“Bitcoin's supply/profit ratio is at 89%. This level is a level at which $BTC should be cautious as we enter the new year.

Further increases are more likely to occur when this level is between 40% and 70%. However, this level is high and investors should be careful.

While this is the case with $BTC, popular altcoins MATIC and $LTC are in the opportunity zone in the short term.”

📊 $BTC's ratio of supply in profit sits at 89%, a level to be cautious with heading into the new year. Further rises are more likely when this number is more in the 40-70% range. Meanwhile, $MATIC & $LTC sit more comfortably in an opportunity zone. https://t.co/MXFBSQ0R0n pic.twitter.com/kBPTDyi9gz

— Santiment (@santimentfeed) December 21, 2023

*This is not investment advice.