PANews reported on April 7 that, according to on-chain data from Santiment, the ratio of profitable to losing trades for Bitcoin reached 2.95:1 over the weekend, the highest level in 12 weeks.

Historical data shows that when profitable trades significantly outnumber profitable trades, it often signals a short-term price top. Furthermore, Santiment points out that when the number of losing trades exceeds the number of profitable trades, it is often a reliable buy signal.