Shiba

Bitcoin

Pepe

Shiba Inu

Adam Back

Daily Bitcoin payments have sunk to a yearly low, illustrating the period of illiquidity characteristic of the holiday season.Confirmed Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) payments sank to 623,434 on Dec. 26, marking the lowest point of the year, according to <a href="https://www.blockchain.com/explorer/charts/n-payments" rel="noopener noreferrer nofollow">data</a> from blockchain.com&nbsp;<figure><img alt="Confirmed Bitcoin payments hit yearly low due to holiday illiquidity" src="https://s3.cointelegraph.com/uploads/2024-12/01940787-5471-701c-8bcd-45dbc6966ee2" title=""><figcaption>Confirmed Bitcoin payments per day. 1–year chart. Source: Blockchain.com</figcaption></figure>Confirmed Bitcoin payments are transactions that the blockchain network’s consensus mechanism has accepted and included in a block, making them irreversible.Metrics like the number of confirmed payments can be used to gauge investor activity on the Bitcoin network.On Dec. 17, Bitcoin price crossed the $108,000 all-time high, securing over 857,000 confirmed payments, which is 37% more than yesterday’s 623,000.<figure><img alt="Confirmed Bitcoin payments hit yearly low due to holiday illiquidity" src="https://s3.cointelegraph.com/uploads/2024-12/01940786-b678-7a79-8524-309fc603ac52" title=""><figcaption>Confirmed Bitcoin payments and BTC price. 1–year chart. Source: Blockchain.com</figcaption></figure>Meanwhile,<a href="https://cointelegraph.com/news/bitcoin-recovery-above-100k-despite-holiday-illiquidity" rel="noopener noreferrer nofollow"> Bitcoin analysts are expecting</a> an imminent price recovery above $105,000 entering the end of the holiday period, which is often associated with low institutional liquidity.Related: <a href="https://cointelegraph.com/news/quantum-computing-fortify-bitcoin-signatures-adam-back" rel="noopener noreferrer nofollow">Quantum computing will fortify Bitcoin signatures: Adam Back</a><h2 id="weak-bitcoin-social-sentiment-points-to-an-imminent-price-recovery">Weak Bitcoin social sentiment points to an imminent price recovery</h2>Weak social sentiment around Bitcoin also suggests an imminent recovery for the world’s largest cryptocurrency.<a href="https://cointelegraph.com/news/bitcoin-social-sentiment-drops-yearly-low-signaling-btc-breakout" rel="noopener noreferrer nofollow">Social sentiment around Bitcoin</a> fell to its lowest level of 2024, to an average ratio of four to five positive versus negative Bitcoin-related comments, Cointelegraph reported on Dec. 22However, this low retail investor sentiment could be a sign of a forthcoming Bitcoin breakout, wrote market intelligence platform Santiment in a Dec. 22 X post:<blockquote> “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.”
</blockquote><figure><img alt="Confirmed Bitcoin payments hit yearly low due to holiday illiquidity" src="https://s3.cointelegraph.com/uploads/2024-12/01940786-29f0-7888-99c0-9ef009842c98" title=""><figcaption>BTC social media sentiment, comment ratio. Source: Santiment</figcaption></figure>Related: <a href="https://cointelegraph.com/news/crypto-trader-turns-27-52-m-prints-1-9-m-return-pepe-memecoin" rel="noopener noreferrer nofollow">Crypto trader turns $27 into $52M with savvy Pepe token investment</a>Other crypto analysts are also expecting an end to Bitcoin’s correction under $100,000. On Dec. 20, Bitcoin’s daily chart <a href="https://cointelegraph.com/news/bitcoin-correction-almost-done-as-realized-losses-rise-above-weekly-average" rel="noopener noreferrer nofollow">produced three consecutive red candles</a> for the first time since the first week of November, which coincidentally was the lead-up period to Donald Trump’s US presidential election victory.Bitcoin’s current downtrend is an organic symptom of the holiday illiquidity, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph:<blockquote> “Post-Christmas, market activity typically picks up again, with funds expected to actively position for sectors that might benefit from Trump's upcoming inauguration… The expected trading range for BTC this week is $94,000 - $105,000.”
</blockquote>President-elect <a href="https://cointelegraph.com/news/ether-price-surpass-4000-trump-inauguration" rel="noopener noreferrer nofollow">Donald Trump’s inauguration</a> could be the next significant Bitcoin catalyst on Jan. 20, 2025.<iframe src="https://www.youtube.com/embed/pUxcQDO30Jo?start="></iframe>Bitcoin in US Reserves: Could It Drive Prices to $500K? Source: YouTubeMagazine: <a href="https://cointelegraph.com/magazine/how-shibtoshi-gambled-95k-shiba-inu-billionaire/" rel="noopener noreferrer nofollow">How Shibtoshi gambled 37 ETH and became a Shiba Inu billionaire</a>

Confirmed Bitcoin payments hit yearly low due to holiday illiquidity

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