The recent Bitcoin (BTC) rally allowed ether (ETH) and Solana (SOL) to surge to a 19-month high, leading the crypto rally
After reaching nearly $45,000, the price of Bitcoin plunged to $43,000, signaling profit-taking by traders
Following this dip, Santiment reported a potential 'bull trap,' with traders expressing fear through social media indicators
Analysts also overlooked BTC's rejections at $37,500 and $38,500 in November.
Despite the soaring Bitcoin futures premium on CME, some traders are decreasing long-to-short leverage, suggesting profit-taking and declining demand for bets over $40,000.