By the end of 2021, Bitcoin price drops below the $50,000 mark again and hits below $47,000 instead of the “predicted” Christmas rally. However, compared to the same of last year when BTC only priced at around $30,000, the increasing rate is still above 50%. Will BTC send us a “surprise” at the beginning of 2022?
66% BTC Holders are Making Money and Funds of Large Players are Entering into Bitcoin Market
According to the statistics from IntoTheBlock website, which provides a narrowed-down, simple view of some of the most relevant metrics for Bitcoin, it shows that over the past 7 days, 66% of the addresses holding BTC are making profits at the current market price. The total trading volume of transactions greater than $100K reaches $207.56 billion. And the total exchange inflows is $7.33 billion which is also more than that of the outflows which is $6.9 billion. To put it simply, a lot of money is still moving towards the BTC market.
The BTC Market is Experiencing Huge Fluctuations
Since the Christmas holiday, with low liquidity, the BTC market has been in the form of volatile price moves. A few days ago, the risk demand pushed BTC to $52,000, but it suddenly plunged $5000 in the past one week. It’s this kind of big fluctuations that attracts more traders and also makes it easier for traders to get profits.
Bitcoin Whales Now Account for 90% of Inflow to Exchanges
As you can see in the following graph, the Bitcoin exchange whale ratio has now exceeded values of 0.9. This means that the top ten transactions now make up for more than 90%…