Amid the market’s negative reaction to the Federal Reserve meeting on December 18, the share of Bitcoin held by owners with transaction horizons of up to three months saw a significant increase, according to CryptoQuant analysts.
The kids are in bed and I'm grateful that we've got a bunch of presents under the tree for them. Taking a quick look at charts before bed and was struck by the fact that BTC is wedged between the 21-Day and 50-Day Moving Averages that coincidentally have Xmas colors.
— Keith Alan (@KAProductions) December 25, 2024
Which one… pic.twitter.com/l4ZNJWIVHF
Market Reaction:
Speculators actively leveraged the price drop to strengthen their positions.
Question from Analysts:
A CryptoQuant expert posed a question on social media:
“Which one do you think will break first?”
Context:
- Previously, QCP Capital noted the failure of a Christmas rally for Bitcoin.
- K33 Research predicted a potential peak of the current bull run on January 17.
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