🐳💸 Después de la caída generalizada del mercado posterior a Navidad, los criptomercados están viendo una tendencia alentadora de ballenas trasladando monedas estables a los intercambios. Según el panel de depósitos principales de CEX de @santimentfeed , ha habido 7 depósitos diferentes de @binance por valor de al menos $ 9 millones en los últimos 24... pic.twitter.com/XpAn0BvrhM
Hours ago, Whale Alerts reported that an unknown whale transferred about $500 million to Binance, amplifying the sentiment that investors could be readying wallets to buy the dip.
Stablecoins, commonly used for fiat on/off-ramp across exchanges, are often moved to CEXs for asset acquisition. Analysts believe these inflows are a bullish sign, suggesting that traders and institutional players are preparing for potential market moves.
The high market activity in stablecoin inflows seemingly coincides with a fall in exchange reserves on cryptos like Bitcoin. According to data from CryptoQuant, spot Bitcoin exchange reserves saw a 5% downtick in the last 30 days, which could mean investors are planning to take up holding positions.
Moreover, the taker buy volume metric, provided by CryptoQuant, also indicates that Bitcoin demand is on the rise. A surge in taker buy volume often points to heightened interest from traders and increasing buying pressure, a trend typically favorable for prices.
On Binance, Bitcoin’s taker buy volume has been on the rise between November 1 and December 25, forming higher lows over this period.
This uptrend signals a growing demand for Bitcoin, further suggesting that buying pressure is intensifying, which could support a positive price movement in the near future.
Bitcoin, which saw a temporary dip following its failure to participate in the traditional “Santa Claus rally,” remains around the $96,000 mark. Despite the pullback, Bitcoin’s on-chain metrics are showing signs of increased buying pressure, particularly on centralized exchange platforms.
Institutional interest in Bitcoin also appears to be on the rise, following a brief period of outflows from Bitcoin Exchange-Traded Funds (ETFs). According to Farside Investors, spot Bitcoin ETFs saw a net inflow of $475.2 million on Thursday, reversing a four-day streak of outflows prior to the holiday.
While Bitcoin’s performance remains the focal point, altcoins have also seen some movement. On Christmas Day, several major altcoins posted slight gains. Ethereum rose close to $3,500, marking a 2% increase, while XRP jumped to $2.30, also reflecting a similar upward trend.
Other altcoins such as BNB, ADA, TRX, and LINK saw modest increases of around 2% each.
However, the post-Christmas correction hit the broader market hard. Ethereum, after peaking near $3,500, has dropped to the $3,400 level, reflecting a 1% daily decline. XRP, Dogecoin, Solana, and others experienced similar setbacks.
Cryptocurrencies like ADA, AVAX, LINK, SHIB, HBAR, XLM, and DOT registered more substantial losses, with some falling by up to 9% on Thursday. AAVE, ONDO, and HYPE have seen even steeper declines, plummeting by 10%.
Meanwhile, the cumulative market capitalization of all cryptocurrencies has experienced a significant pullback. On December 25, the total market cap stood at $3.6 trillion, but by the end of the following day, it had dropped to $3.46 trillion, a decrease of over $100 billion, per Coingecko’s recent updates.
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