由于鲸鱼的额外购买,比特币继续创下历史新高

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Cryptoquant "Institutions have accumulated 40,000 BTC in the OTC market in a month"
Altcoins show different movements compared to the BTC rally
Experts reveal different forecasts for BTC prices next year

[Coin Market Trend] BTC continues to set new highs as whales continue to accumulate
BTC continued its 'Santa Rally' on the 17th, driven by additional purchases by large holders.

It has been revealed that 'whales' with large holdings of BTC are continuing to buy BTC. Michael Saylor, founder of MicroStrategy, announced on the 16th through his X account that he had purchased an additional 15,350 BTC. The price of this in dollars is about $1.5 billion (about 21.544 trillion won).

Julio Moreno, chief analyst at Cryptoquant, also explained on his X account that "the balance of BTC on the OTC desk has decreased by about 40,000 since November 20." The OTC desk is the main channel for institutional investors to purchase BTC, and the decrease in BTC volume on the OTC desk means that the demand for BTC from institutional investors is increasing.

While BTC continues to set new highs, altcoins have shown somewhat divergent movements. Some altcoins recorded double-digit gains, while major altcoins remained range-bound.

◇BTC = As of 4 pm on the 17th, the BTC price on Upbit is 15,496 million won. BTC dominance was 57.85%.

According to on-chain analysis platform Glassnode, the long (bullish) and short (bearish) betting ratios in the BTC futures market were 39.20% and 60.80%, respectively.

As BTC continues to set new highs, experts' forecasts for BTC are divided.

Matthew Sigel, head of digital assets research at VanEck, predicted that "BTC will reach $180,000 by 2025."

On the other hand, BCA Research forecasts that the US economy will enter a recession next year, suggesting that BTC prices could plummet by nearly 60%. A letter sent to BCA Research clients stated that "BTC prices could plummet to $45,000 by the end of next year" and that "a recession could lead to a sharp decline centered on BTC and big tech companies."

◇Rising Coins = At 4 pm on the 17th, the cryptocurrency that recorded the largest gain compared to the previous trading day on Upbit was UXLINK, up about 15%.

UXLINK is building a Web 3.0 social platform where users can participate and be guaranteed full ownership and privacy of their data, identity, and social connections. It aims to act as a bridge between Web 2.0 and Web 3.0, overcoming the limitations of existing social platforms.

For users, it provides various dApps and services that can be used in a group-based manner, and for developers, it supports various APIs and SDKs that can utilize users' social data. Users can easily create a UXLINK account and invite acquaintances using existing social media accounts such as Telegram. The native token of UXLINK, UXLINK, is used as a means of payment and for governance within the platform.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is at 87 points, entering the 'Extreme Greed' stage. Extreme greed is a stage of rising accompanied by high trading volume and strong volatility. The market is highly likely to exit at the top, making it a sell zone for institutions.

The Cryptocurrency Relative Strength Index (RSI) provided by Glassnode is 72.2, indicating an 'overbought' state. RSI measures the relative strength of the upward and downward pressure on a specific asset price, indicating the degree of overbought and oversold of the asset.

Reporter Kwon Seung-won ksw@blockstreet.co.kr

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