Bitcoin has recently experienced mixed market movements, with analysts closely 
monitoring on-chain data to understand the short-term trajectory of the 
leading cryptocurrency. On-chain metrics indicate a notable shift in exchange 
activity, with Tether (USDT) seeing significant outflows while Bitcoin (BTC) 
inflows into exchanges remain elevated. This trend suggests a potential 
&#8220;imbalance&#8221; in market dynamics, where selling pressure could lead to further 
price corrections in the short term. Related Reading: Bitcoin Short-Term 
Holders Fueling Potential Dip – $90K Support Crucial Level To Hold Spot Market 
Trends and Selling Pressure Signal Possible Downturn According to data shared 
by CryptoQuant analyst Onatt, more than 15,000 BTC have been observed moving 
into exchanges, a metric typically associated with an increased likelihood of 
sell-offs. Simultaneously, Tether outflows imply a reduction in liquidity 
within these exchanges. Tether Outflows and Bitcoin Inflows Signal Short-Term 
Weakness “Significant amounts of Tether (USDT) are exiting exchanges, and a 
large inflow of Bitcoin (BTC) (&gt;15K) has been observed entering exchanges.” – 
By @tutunculeronat Link 👇https://t.co/NFCLi7EpiI pic.twitter.com/6lUyTiEdNi — 
CryptoQuant.com (@cryptoquant_com) December 24, 2024 Historically, such 
movements have been linked to short-term price declines, as traders and 
institutional investors reposition their portfolios amid market volatility. 
However, Onatt noted that while these indicators suggest short-term downside 
risk, there appears to be no significant macroeconomic catalyst to drive a 
prolonged bearish trend. The analyst particularly wrote: This combination of 
factors may indicate a potential for further short-term downside in Bitcoin’s 
price. However, from a macroeconomic perspective, there doesn’t appear to be a 
catalyst that would necessitate a prolonged bearish trend after this short- 
term correction. Key Indicators Suggest Mixed Signals in the Bitcoin Market 
TraderOasis, another analyst, highlighted additional metrics influencing 
Bitcoin’s price behavior. One key observation focused on the Coinbase Premium 
Index, which failed to follow Bitcoin&#8217;s upward movement during its last price 
surge. Oasis noted: As a result, the price retreated. We are now in negative 
territory. I expect a break in the market for the continuation of the rise. 
Notably, this disconnect indicates a lack of strong buying activity from US- 
based investors, often considered a significant driver of Bitcoin’s upward 
momentum. The analyst also noted that the funding rates have started to 
decline while open interest levels have been rising. Falling funding rates 
coupled with rising open interest typically indicate that traders are opening 
more short positions. This pattern suggests bearish sentiment in the 
derivatives market, with traders expecting a continuation of the downward 
trend or, at best, a period of sideways movement. Related Reading: Metaplanet 
Bitcoin Reserves Grow With Fresh $61 Million Purchase Additionally, the 
combination of declining funding rates and increasing open interest suggests 
that the market could remain in a consolidation phase for a while. TraderOasis 
wrote: I think the price will move sideways due to the Christmas week. Then 
the distribution movement will start. Featured image created with DALL-E, 
Chart from TradingView

Bitcoin Faces Short-Term Uncertainty as Exchange Inflows Surge and Tether Liquidity Drops

With Donald Trump&#8217;s victory in the U.S. elections, the cryptocurrency market 
has entered a strong growth phase, reigniting excitement across the space. A 
long-awaited milestone has been achieved with Bitcoin — its price has soared 
past the $106,000 mark. The…

Which crypto will explode in 2025? Top coins poised for massive growth

Bitget saw a 683% increase in Gen Z users in November, marking a shift in 
crypto demographics following Donald Trump&#8217;s presidential election victory. 
Gen Z&#8217;s share of new users on the crypto exchange jumped from 26.2% in October 
to 53.8% by the end of November, reflecting heightened interest among younger 
investors. The surge coincided with […]
The post Gen Z crypto users surge following Trump victory in US elections — 
Bitget appeared first on CryptoSlate.

Gen Z crypto users surge following Trump victory in US elections — Bitget

As Ethereum&#8217;s next move captures attention, these three altcoins are poised to 
steal the spotlight with big returns. #partnercontent

Top 3 altcoins set to deliver big returns before ETH’s move

A quant has explained how the latest trend in the Bitcoin Coinbase Premium 
Index could imply a buying opportunity for the asset. Bitcoin Coinbase Premium 
Index Has Plunged To -0.221% In a CryptoQuant Quicktake post, an analyst 
talked about the latest development in the Bitcoin Coinbase Premium Index. The 
&#8220;Coinbase Premium Index&#8221; refers to a metric that keeps track of the percentage 
difference between the BTC price on Coinbase (USD pair) and that on Binance 
(USDT pair). When the value of this metric is positive, it means the 
cryptocurrency is trading at a higher rate on Coinbase than on Binance. Such a 
trend implies there is a higher buying pressure or a lower selling pressure 
present on the former as compared to the latter. Related Reading: Dogecoin &amp; 
Other Memecoins No Longer Grabbing Social Media Attention: Santiment On the 
other hand, the indicator being under the zero mark suggests that Binance 
users are participating in a higher amount of buying than Coinbase ones as 
they have pushed BTC to a higher value there. Now, here is a chart that shows 
the trend in the Bitcoin Coinbase Premium Index over the last few months: From 
the graph, it&#8217;s visible that the Bitcoin Coinbase Premium Index has seen a 
sharp decline into the negative region recently, meaning that sellers have 
appeared on Coinbase. Alongside this selling, the BTC price has also witnessed 
a decline, which would suggest the negative premium could be the source of it. 
The cryptocurrency has actually been following the indicator in this manner 
throughout the year, with its price going up and down alongside buying and 
selling shifts on Coinbase. The reason behind this relationship potentially 
lies in the fact that Coinbase is home to US-based institutional investors, 
who have had a significant presence in the market this year. The Coinbase 
Premium Index being red right now would naturally imply these giant investors 
are selling. Considering that BTC&#8217;s price has been following the metric, this 
would be a bearish signal for the asset. There exists another pattern, 
however, that could imply a different outcome for Bitcoin. As the quant has 
highlighted in the chart, the metric has seen a rebound whenever its value has 
gone to the -0.2% mark during the past year. Related Reading: Bitcoin To Top 
Above $168,500 Based On This Indicator, Analyst Reveals The explanation behind 
the pattern may be that it&#8217;s usually around this level of selling that new 
buyers show up and decide to accumulate on the dip, pushing the metric as well 
as the price up in the process. The current value of the indicator is sitting 
at -0.221%, so it&#8217;s possible that Bitcoin could be close to reaching a bottom, 
if it hasn&#8217;t already formed one. This would only be, of course, if the 
institutional investors think that the bull run is still on. BTC Price Bitcoin 
briefly went under the $93,000 level yesterday, but it seems the coin has 
found a rebound as its price is now trading around $94,100. Featured image 
from Dall-E, CryptoQuant.com, chart from TradingView.com

Cryptocurrency price in VND