🕵 Before and after the Christmas holiday: Bitcoin, Ethereum, and altcoin market sentiment observation
On December 23, Ki Young Ju, founder and CEO of CryptoQuant, shared a set of eye-catching data, pointing out that the total amount of Bitcoin held by ETFs, governments, and MicroStrategy has accounted for 31% of all known Bitcoin holdings, which is higher than 14% last year. Ki Young Ju also emphasized that this 31% is based on data from known Bitcoin holders, not 31% of all Bitcoin.
On the same day, analyst @ai_9684xtpa reviewed the historical performance of Bitcoin during the Christmas holiday and found that in the past five years, except for 2020, the probability of Bitcoin rising within two months after the holiday was as high as 80%. If investors choose to buy the bottom within a week after New Year's Day, the probability of profit is about 60%. Although the market is affected by the flow of BTC ETF funds, the Christmas holiday does not show the threat of "Christmas robbery".
Matrixport analyzed the market performance of Ethereum and other altcoins, pointing out that although the launch of the Ethereum ETF has attracted billions of dollars in inflows, its dominance rate continues to decline, and the market lacks enough positive news to support its rebound. Matrixport predicts that Ethereum investors may need to wait until 2025 for a more favorable market environment, when there may be a new round of upside opportunities.
In addition, Santiment's analysis also posted a post on the same day, pointing out that the cryptocurrency market sentiment quickly turned from bullish to bearish in two weeks, especially after the market value adjustment, and altcoins were significantly affected. However, Bitcoin's attention is recovering, while interest in Meme coins has declined. Santiment believes that this market panic and pessimism are normal in the cycle, and it also provides patient traders with opportunities to invest in market panic.
In summary, these analyses and data have brought us deep insights into the cryptocurrency market. This also reminds us that in a constantly changing market environment, it is crucial to find the right entry time.
💬What do you think of these market dynamics and point of view analysis? Do you think Bitcoin can avoid the threat of "Christmas robbery" this time? Can altcoins usher in a strong recovery in 2025?
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