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Bitcoin price flatlines as XRP hits $1 with ‘massive’ altcoin move set for 2022
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Bitcoin (BTC) stuck rigidly to its tight range on Dec. 23 as price action continued to contradict strong buying activity.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to hold $49,000 after hitting 10-day highs.
The pair remained stuck in a trading zone only around $4,000 wide, a key factor fuelling bets that a “short squeeze” would hit over the holiday period.
Against declining volatility, data reinforced conviction among investors, with the supply being bought up at roughly three times the rate of new BTC being mined.
“Strong handed HODLers are absorbing supply at more than triple the rate of new coins being mined each day,” on-chain analytics firm Glassnode summarized in the latest edition of its weekly
Read more on cointelegraph.comAbout this in other media
Bitcoin price bounces off $42K as order book imbalance turns 'crazy' cointelegraph.com /2 years ago
Bitcoin price drops to $43.7K after Fed minutes re-confirm plans to hike rates cointelegraph.com /2 years ago
Altcoins turn bullish even as Bitcoin price slips below $46K again cointelegraph.com /2 years ago
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