Crypto market participants resumed active withdrawal of bitcoins from exchanges. According to Glassnode data.
The #Bitcoin market hovers precariously below $50k, as the bulls, and bears draw their lines in the sand.
After a significant deleveraging in derivatives markets, onchain data provides insight into the most likely $BTC move.
Read more in The Week Onchainhttps://t.co/1hRY4Swkoz
— glassnode (@glassnode) December 13, 2021
For the past week, the seven-day moving average of inflows and outflows of coins on centralized platforms turned negative, fluctuating between 2,113 BTC and 5,831 BTC. The last time such values were observed was at the start of August.
During the current October–December correction, exchange balances fell by 49,000 BTC. This contrasts with the previous episode in May–July, when inflows of 168,000 BTC were observed.
График реализованных убытков отражает две капитуляции инвесторов в объёме более $1 млрд за сутки в ходе текущей коррекции. По сравнению с событиями в мае-июле 2021 года процесс ускорился. Аналитики видят в этом проявление нервозности участников рынка касательно дальнейшей динамики биткоина и сигнал сокращения потенциального давления медведей.
Динамика реализованной прибыли указывает на снижение заинтересованности ходлеров в тратах на сложившихся уровнях.
The investment director of Bitwise Asset Management doubted Bitcoin’s ability to reach $100,000 by year-end.
Earlier, the author of the Stock-to-Flow PlanB model acknowledged the failure of his own “worst-case” scenario, according to which Bitcoin’s price was to reach $98,000 in November. Prior to that, similar opinions were voiced by Huobi analysts.
In December, Ark Invest founder Cathie Wood pointed to institutional buyers’ potential to push Bitcoin toward $550,000.
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