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Price analysis 12/20: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
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Bitcoin (BTC) continues to lose ground in December, a signal that traders may be locking in their gains before the end of the year. The lack of a Santa rally in the U.S. equity markets indicates that the risk-off sentiment prevails due to the uncertainty regarding the spread of the COVID-19 Omicron variant in several parts of the world.
Even after the sharp drop in Bitcoin’s price, the demand from institutional investors remains tepid, and data shows that the largest institutional Bitcoin product, the Grayscale Bitcoin Trust (GBTC), is trading at a discount of more than 20%.
Veteran trader Peter Brandt said that “high volume panic capitulations” usually signal a bottom in Bitcoin and that has not yet happened during the current decline from
Read more on cointelegraph.comAbout this in other media
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