The cryptocurrency market saw a significant shift in December, with Bitcoin (BTC) experiencing a surge in demand and a decrease in selling pressure, according to a report by CryptoQuant. Analysts at CryptoQuant revealed that "Bitcoin accumulator addresses bought 225,280 BTC during December." This sharp increase in demand for Bitcoin has begun to impact the selling pressure. Additionally, the total Bitcoin liquid supply available for sale on crypto exchanges and Bitcoin spot ETFs dropped by 590k BTC during the same period. Moreover, the Bitcoin supply on over-the-counter (OTC) desks decreased from 421k BTC to 403k BTC. These observations suggest that the demand for Bitcoin is continuing to erode the sell-side, indicating a potential shift in market sentiment.
Bitcoin Demand Surged in December, Easing Selling Pressure
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