Despite recent declines in Bitcoin’s price, short-term holders remain in profit, with an average unrealized gain of +7.9%. The collective cost basis for these holders is $86.8K, marking this as a crucial level for gauging local price momentum. Despite the decline in #Bitcoin price, the average Short-Term Holder continues to hold an unrealized profit (paper gain) of +7.9%. Currently, their aggregate cost-basis resides at a value of $86.8k, marking this as a key region of interest for local price momentum. pic.twitter.com/fQaQJ8mZtb — glassnode (@glassnode) December 30, 2024 The TD Sequential indicator has flashed a buy signal on Bitcoin’s hourly chart, suggesting the potential for a price rebound—provided the $93,000 support level holds. However, a break below this threshold could signal trouble, as there is little significant support beneath it to stabilize prices. The TD Sequential indicator presented a buy signal on the #Bitcoin $BTC hourly chart, anticipating a price rebound if, only if, the $93,000 support holds. pic.twitter.com/bQZIt5rzAO — Ali (@ali_charts) December 29, 2024 #Bitcoin $BTC below $93,000 is a problem because, as you can see, there isn't enough significant support below it! pic.twitter.com/MSJxAT56OG — Ali (@ali_charts) December 30, 2024 MicroStrategy continues to strengthen its Bitcoin holdings, adding 2,138 BTC ($209M) last week at an average price of $97,837 per coin. The company now owns a total of 446,400 BTC (worth $41.78B), acquired at an average cost of $62,428. MicroStrategy’s current unrealized profit stands at approximately $13.92 billion, reflecting its long-term bullish stance on Bitcoin. MicroStrategy bought another 2,138 $BTC ($209M) at an average price of $97,837 last week! #MicroStrategy currently holds 446,400 $BTC ($41.78B), with an average buying price of $62,428 and an unrealized profit of ~$13.92B. pic.twitter.com/Mo0s3j6iTy — Lookonchain (@lookonchain) December 30, 2024 Tether Moves And Bitcoin ETFs Tether has also made notable moves, withdrawing 7,629 BTC ($705M) to its Bitcoin reserve address. This marks the stablecoin issuer’s first major addition to its reserves in nine months. Tether now holds 82,983 BTC (worth $7.66B), further diversifying its asset backing. Tether( @Tether_to ) withdrew 7,629 $BTC ($705M) to its #Bitcoin reserve address again after 9 months. Currently, #Tether holds 82,983 $BTC ($7.66B). https://t.co/Ptsy2BsPoE pic.twitter.com/kXL9kiAzX3 — Lookonchain (@lookonchain) December 30, 2024 In the ETF space, Bitcoin spot ETFs saw mixed activity last week. Between December 23 and December 27, there was a net outflow of $388 million. However, Fidelity’s Bitcoin ETF (FBTC) recorded a net inflow of $183 million during the same period. The total net asset value of Bitcoin spot ETFs now stands at $106.68 billion, reflecting steady institutional interest despite price fluctuations. Last week, from December 23 to December 27, the Bitcoin spot ETF had a net outflow of $388million. The Fidelity ETF FBTC had a weekly net inflow of $183million. The total net asset value of Bitcoin spot ETF is $106.683billion. https://t.co/YanotfbWiJ pic.twitter.com/JHSWMhXFHJ — Wu Blockchain (@WuBlockchain) December 30, 2024 With key support levels being tested and major players making strategic moves, the coming weeks could be pivotal for Bitcoin’s price trajectory. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: dimarik16/ 123RF // Image Effects by Colorcinch
