Bitcoin Payments Hit Yearly Low, Analysts Predict Post-Holiday Rebound
Bitcoin network activity has hit a yearly low, with confirmed payments dropping to 623,434 on December 26, according to blockchain.com.
This decline highlights the typical holiday slowdown in liquidity across financial markets. Confirmed Bitcoin payments represent transactions accepted into a block by the network’s consensus mechanism, making them irreversible. These metrics often serve as indicators of investor engagement within the network.
Earlier this month, Bitcoin crossed its $108,000 all-time high on December 17, recording 857,000 confirmed payments—37% more than the latest figures. Analysts now predict a rebound above $105,000 as institutional participation resumes post-holiday.
In parallel, Bitcoin’s social sentiment has dipped to its lowest level in 2024, with the ratio of positive to negative comments narrowing to four to five. Despite this bearish outlook, market intelligence firm Santiment suggests this trend could signal a contrarian opportunity for an upward breakout.
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Crypto Bull Market Nearing Its Final Phase, Analyst WarnsOther analysts share this optimism, pointing to Bitcoin’s recent correction under $100,000 as a natural consequence of reduced holiday liquidity. Ryan Lee, chief analyst at Bitget Research, noted that post-Christmas market activity typically recovers as funds reposition ahead of significant events, including President-elect Donald Trump’s inauguration on January 20, 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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