360
147 shares, 360 points

On-chain analytics firm Santiment says in its latest Bitcoin report that whales are selling and individual investors are reluctant to buy. According to the firm, investors are not hopeful enough for 2022 and the number of daily active wallets is increasing. Let’s take a look at Santiment’s answers to all of these.

Bitcoin hits record number of active wallets

Crypto analytics firm Santiment says the recent increase in the number of daily active Bitcoin (BTC) addresses indicates that the BTC price may be about to move upwards. . The firm’s Twitter account tells its 120,700 followers that Bitcoin activity has picked up after about a month of stagnant data:

We’re seeing a trend of increasing address activity as Bitcoin maintains the $46,000 to $48k range. December 28 was the highest address activity in 4 weeks, and these high increases in the DAA (daily active addresses)/price ratio are historically linked to price increases.

Santiment provides a more in-depth analysis of Bitcoin’s relative strengths and weaknesses in its latest Insights blog post. As Bitcoin struggles to recapture and hold the $50,000 level, the firm has this to say on individual investor sentiment:

It seems like a lot of people have lost their magic and are in disbelief about getting above $50,000.

Retail investors are unenthusiastic about 2022

According to the firm, the crypto analysis firm believes that although its funding rates are mostly unbiased, many people think that 2022 He says he sold his BTCs for fear that it would not rise in .

People are now selling because they believe there may be further declines. This is a bearish sign. There are enough people who believe that BTC is not going to rise all next year. They are selling now because they are unsure of long-term waiting. Santiment, whose data we share

Kriptokoin.com , is also concerned about the downward trend in whale activity:

A significant amount of money is drained by these addresses. . It’s hard to ascend when whales behave like this.

The data firm concludes its analysis of Bitcoin by stating that the daily circulation of BTC has fallen for the past month and a half:

Every week since November, it has been more and more in terms of daily circulation. we see a low peak (LH). The amount of Bitcoin used over the network is clearly falling.


Like it? Share with your friends!

360
147 shares, 360 points

What's Your Reaction?

hate hate
981
hate
confused confused
490
confused
fail fail
122
fail
fun fun
1226
fun
geeky geeky
1104
geeky
love love
736
love
lol lol
858
lol
omg omg
490
omg
win win
122
win
Michael Lewis

Emperor

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format