Blockchain.com Reports Year’s Lowest Confirmed Bitcoin Payments
The yearly low in daily Bitcoin transfers highlights the illiquidity that characterizes the holiday season. According to data from blockchain.com, confirmed Bitcoin payments fell to 623,434 on December 26, the lowest amount of the year.
Transactions that have been approved by the consensus process of the blockchain network and included in a block are known as confirmed Bitcoin payments, and they are irreversible. One way to measure investor activity on the Bitcoin network is to look at metrics like the number of confirmed payments. With over 857,000 confirmed payments, the price of Bitcoin reached its all-time high of $108,000 on December 17. This is 37% more than the 623,000 payments that were made yesterday.
Bitcoin Price Rebound Likely as Retail Sentiment Hits Rock Bottom
Analysts of Bitcoin predict that the price will soon rise above $105,000 as the holiday season draws to a close, a situation that is frequently linked to a lack of institutional liquidity. Furthermore, the general lack of enthusiasm for Bitcoin points to an impending comeback for the biggest cryptocurrency in the world.
According to a December 22 Cointelegraph report, social sentiment surrounding Bitcoin dropped to its lowest level since 2024, with an average ratio of four to five positive against negative remarks. However, market analytics company Santiment stated in a post on X on December 22 that this low attitude among retail investors might be an indication of an impending Bitcoin breakout.
Vocal traders are now showing severe FUD, and that’s good news for contrarians who know markets move in the opposite direction of retail’s expectations.
Santiment
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