tl;dr
A prominent on-chain analyst reports a significant withdrawal of Bitcoin (BTC) from exchanges, totaling nearly $4 billion in the second week of December. The analyst also notes that Bitcoin miners have sold over 140,000 BTC, amounting to $13.72 billion in the first half of the month. Despite this, B...
Investors have withdrawn nearly $4 billion worth of BTC from exchanges in the second week of December, signaling a steady downtrend in BTC balance on crypto exchanges. Meanwhile, Bitcoin miners have sold over 140,000 BTC amounting to $13.72 billion in the first half of the month. Despite these sell-offs, BTC has surged to a new all-time high of $105,331, marking a 5.7% increase in the last week.
Ethereum's on-chain metrics paint a bullish picture, with active addresses up 4.24%, new addresses up 2.65%, and zero-balance addresses down 4.06%. These metrics suggest positive momentum for ETH, which is currently trading above $4,000.
Notably, a prominent on-chain analyst reports substantial Bitcoin (BTC) withdrawals from exchanges, totaling nearly $4 billion in the second week of December. The analyst also highlights the significant selling pressure from Bitcoin miners, who have unloaded over 140,000 BTC, worth $13.72 billion, in the first half of December. However, despite these sell-offs, BTC has reached a new all-time high of $105,331, climbing 5.7% in the last week.
Additionally, the analyst points out that Ethereum (ETH) is displaying bullish on-chain metrics, with an increase in active addresses by 4.24%, new addresses by 2.65%, and a decrease in zero-balance addresses by 4.06%. This indicates growing momentum for ETH, which is currently trading above $4,000, maintaining sideways movement over the last week.