cryptd.in

另类 LinkedIn 适合加密人才

Bitcoin Demand On The Rise Again — What’s Happening?

-

由

于

This week was one of two distinct halves for the price of Bitcoin, with the premier cryptocurrency rising to a new all-time high and dropping by about 13% a few days later. On Friday, December 20, the BTC price dropped to as low as $92,000.

This abrupt Bitcoin price decline came following the US Federal Reserve’s rate cut, which also pushed other financial markets to the red. However, it is worth mentioning that the premier cryptocurrency is beginning to show signs of recovery, currently hovering around $97,000.

Can Growing Demand Push BTC Price Back Above $100,000?

In a recent December 20 report, market analytics platform CryptoQuant revealed an interesting on-chain development with the Bitcoin supply-demand dynamics. According to the blockchain firm, the BTC market seems to be enjoying renewed investor interest.

The relevant indicator here is the Total OTC Desk Balance, which tracks the amount of Bitcoin held in addresses associated with Over-The-Counter (OTC) desks. This metric provides an insight into the supply of BTC readily to large investors and institutional players.

According to data from CryptoQuant, the OTC desks are witnessing their largest monthly inventory decline of 2024, declining by over 26,000 BTC so far in December. This decline has been even more significant in the past 30 days, with the balance dropping by 40,000 BTC since November 20.

比特币

This decline in the Total OTC Desk Balance is a bullish indicator, which reflects the soaring demand for Bitcoin and the concurrently shrinking supply. Typically, the contracting BTC supply on the open market could set the stage for a period of significant price appreciation.

CryptoQuant noted that the price of Bitcoin rallied from $40,000 to around $74,000 in the 2024 first quarter after demand growth caused the Over-The-Counter desks’ inventories to fall. According to the market intelligence, the OTC desk’s inventory is beginning to near the levels seen during the first-quarter rally.

Data from CryptoQuant shows that Bitcoin’s apparent demand is currently growing at a monthly rate of 228,000 BTC after entering the expansion territory in late September. At the same time, the balance of accumulation addresses is swelling at a record-high rate of 495,000 BTC per month.

Bitcoin Price At A Glance

As of this writing, the price of Bitcoin stands at around $97,655, reflecting a 0.1% decline in the past 24 hours. The premier cryptocurrency is down by nearly 4% on the weekly timeframe, according to data from CoinGecko.

比特币

Featured image created by DALL-E, chart from TradingView

评论

发送留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

最新信息

热门类别

zh_TW 繁體中文
zh_TW 繁體中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (370) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (65) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (64) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (3) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (5) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。