Price analysis 12/24: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE By Cointelegraph

Price analysis 12/24: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE By Cointelegraph
Price analysis 12/24: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE By Cointelegraph

(BTC) bounced back above the psychological level at $50,000 and the S&P 500 hit a new all-time closing high on Dec. 23, suggesting that the panic selling caused due to the omicron variant is subsiding and the much-awaited “Santa rally” may have started.

Data from on-chain analytics firm Glassnode shows that about 100,000 Bitcoin are going from “liquid” to “illiquid” state every month, which means that the coins are being sent to addresses “with little history of spending.” This suggests accumulation by investors.

Daily cryptocurrency market performance. Source: Coin360BTC/USDT daily chart. Source: TradingViewETH/USDT daily chart. Source: TradingViewBNB/USDT daily chart. Source: TradingViewSOL/USDT daily chart. Source: TradingViewADA/USDT daily chart. Source: TradingViewXRP/USDT daily chart. Source: TradingViewLUNA/USDT daily chart. Source: TradingViewAVAX/USDT daily chart. Source: TradingViewDOT/USDT daily chart. Source: TradingViewDOGE/USDT daily chart. Source: TradingView

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