As Bitcoin (BTC) takes a breather following the “Santa Rally,” the previous selling pressure appears to have eased.
Bitcoin price based on CoinMarketCap as of 1:05 p.m. on the 26th
It rose 0.66% from the same time the previous day to $98,606 (approximately 15.51 million yen). The previous day, it rose to $99,800 during the Santa Rally and surpassed the $100,000 mark again, but is currently
Bitcoin, which entered a correction phase on the 19th of last month, was flooded with profit-taking sales and fell to the $92,000 range. However, the Santa Rally took place for the first time in six days.
The price recovered at , and on the 25th it rose again to the $99,000 range. For a while, there was a flood of profit-taking sales, so the selling pressure has now eased.
Cryptoquant reports that during December, Bitcoin accumulator addresses
addresses) bought 225,280 BTC," and "demand for Bitcoin
"The supply of Bitcoin in the over-the-counter (OTC) market has also decreased from 421,000 BTC to 403,000 BTC this month.
This means that demand for Bitcoin continues to be generated and is absorbing the selling pressure. In addition, the Bitcoin balance of Binance, the world's largest exchange, is also on a downward trend.
"Binance Bitcoin balances hit lowest since January," said Darkfost, a contributor to CryptoQuant.
"The 10-month high recorded a record high of 1.54 on the day of the 10-month high," he said, interpreting the move as a signal that positive momentum is building in the market.
2024/12/26 13:37 KST
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