On Friday (December 24), we could be seweing the signs of the start of a very late Santa Claus rally as the Bitcoin price has surged above $51K for the first time since December 4.
According to data by TradingView, on crypto exchange Bitstamp, the $BTC price got as high as $51,392 at 2:05 a.m. UTC. Currently (as of 7:20 a.m. UTC), Bitcoin is trading around $51,032 at 07:20 UTC, up 5.33% in the past 24-hour period.
Prominent Russian crypto analyst “Lex Moskovski” used data from blockchain analytics startup Glassnode to point out that $BTC wallets with balances between 100 and 1000 bitcoins seem to be continuing to buy more $BTC:
#Bitcoin 100-1K wallets keep stacking and the supply controlled by them repeatedly hitting ATH.
Not saying it will definitely go parabolic like in the previous year but it surely looks like it. pic.twitter.com/d9qnA0VEeA
— Lex Moskovski ?? (@mskvsk) December 24, 2021
And popular pseudoanymous crypto analyst “Altcoin Sherpa” offered technical analysis of Bitcoin’s price action to his overb 158K Twitter followers:
$BTC: The plan is still the same: This goes to 55-60k and hits a lower high/then we see where the lows are printed. I'm personally still thinking that price will revisit the 43-44ks eventually before the real move but let's see! Still HTF bullish though. #Bitcoin pic.twitter.com/GvCoFxjkcM
— Altcoin Sherpa (@AltcoinSherpa) December 24, 2021
On-chain and social analytics startup Santiment says that Bitcoin’s move above the $51K level has turned traders’ sentiment positive.
?? With #Bitcoin back over $51k, the sentiment from traders has shifted back into positive range. As expected, $50k has become somewhat of a psychological support level, where traders become optimistic when above this threshold, & skeptical when below. https://t.co/HLuy1TbDdH pic.twitter.com/R58ZXNIvjS
— Santiment (@santimentfeed) December 24, 2021
On Tuesday (December 21), Michael J. Saylor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), disclosed that his firm had bought abother 29,646 bitcoins for around $650 million at an average price of $21,925 per $BTC, bringing its total $BTC holdings to 70,470 bitcoins.
MicroStrategy has purchased an additional 29,646 bitcoins for $650 million at an average price of $21,925 per #bitcoin and now #hodl an aggregate of 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin.https://t.co/j6wVLXIzoa
— Michael Saylor?? (@saylor) December 21, 2020
Featured Image by “SnapLaunch” via Pixabay
