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Price analysis 12/24: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
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Bitcoin (BTC) bounced back above the psychological level at $50,000 and the S&P 500 hit a new all-time closing high on Dec. 23, suggesting that the panic selling caused due to the omicron variant is subsiding and the much-awaited “Santa rally” may have started.
Data from on-chain analytics firm Glassnode shows that about 100,000 Bitcoin is going from “liquid” to “illiquid” state every month, which means that the coins are being sent to addresses “with little history of spending.” This suggests accumulation by investors.
In another sign that investors are not dumping their coins on small corrections, data from CryptoRank shows that the total Bitcoin on crypto exchanges has dropped from 9.5% of the total Bitcoin supply in October 2020 to 6.3%
Read more on cointelegraph.comAbout this in other media
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