Bitcoin (BTC) and altcoins have made a notable rebound as Christmas Day approaches.
BTC surged to as high as $99K, fueling optimism that the $100K mark could be within reach before the end of the year. Here’s a look at the current distribution of Bitcoin wallets by size:
- – 🦐 Wallets with 0-0.1 BTC: 50.17 million
- – 🐠 Wallets with 0.1-10 BTC: 4.31 million
- – 🦈 Wallets with 10-1,000 BTC: 150,130
- – 🐳 Wallets with 1,000+ BTC: 2,050
📈 Bitcoin and altcoins have recovered well heading into Christmas Day. BTC has rebounded as high as $99K with traders hoping for a $100K Xmas gift. Here are the number of BTC wallets by size:
🦐 0-0.1 BTC Wallets: 50.17M
🐠 0.1-10 BTC Wallets: 4.31M
🦈 10-1,000 BTC Wallets:… pic.twitter.com/D2I5Lntu09— Santiment (@santimentfeed) December 25, 2024
The market’s bullish sentiment appears to be driven by accumulation, particularly within the larger wallet categories. As long as the number of wallets in these groups continues to rise and maintain their accumulation pattern throughout 2024, the chances of a sustained bull market increase.
However, recent news from the Federal Open Market Committee (FOMC) had an immediate impact on the market.
FOMC news hit the market hard—$BTC dipped to $92K, and alts took an even bigger hit. 📉
But here’s the twist: short-term holders (STH) under 3 months are up 3% in just a week.
New money is stepping in. 🧐 pic.twitter.com/CDHNdxptWA
— Kyledoops (@kyledoops) December 25, 2024
Bitcoin briefly dipped to $92K, with altcoins experiencing an even more significant decline. Despite this, short-term holders (STH) with positions under 3 months have seen a 3% gain over the past week.
FOMC news hit the market hard—$BTC dipped to $92K, and alts took an even bigger hit. 📉
But here’s the twist: short-term holders (STH) under 3 months are up 3% in just a week.
New money is stepping in. 🧐 pic.twitter.com/CDHNdxptWA
— Kyledoops (@kyledoops) December 25, 2024
In the last 24 hours, the percentage of Bitcoin traders on Binance taking long positions decreased from 66.73% to 53.60%, reflecting a shift in market sentiment.
The percentage of traders going long on #Bitcoin $BTC in Binance dropped from 66.73% to 53.60% in the past 24 hours. pic.twitter.com/blbdDH28MS
— Ali (@ali_charts) December 25, 2024
As of December 24, Bitcoin ETF net flows showed a drop of 2,306 BTC, equating to approximately $226.3 million in outflows. Among these, Fidelity reported outflows of 1,573 BTC, valued at $154.29 million, leaving the firm with 203,194 BTC, currently worth about $19.94 billion.
Despite market fluctuations, the Bitcoin ecosystem continues to show strong signs of growth and resilience.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: studiograndouest/123RF // Image Effects by Colorcinch
Source: https://nulltx.com/bitcoin-and-altcoins-see-strong-recovery-heading-into-christmas/