During the Asian session on December 19, Bitcoin is trading at €16 as investors seem to be waiting for a strong fundamental reason to drive the price action. Similarly, Ethereum trades in a range between €700 and €1,150. A breakout of this range will help us determine future market price movements.
Major cryptocurrencies were trading in the red as of early December 19, despite the global crypto market capitalization rising 0,60% to $812.940 billion the previous day. The total volume of the cryptocurrency market for the last 24 hours is $21.440 billion, down 23,51%.
Total DeFi volume was $1170 billion, or 5,46% of total 24-hour volume on the crypto market. The aggregate volume of all stablecoins was €19,30 billion, or 90,04% of the total 24-hour volume of the crypto market.
Crypto Whales downloaded 280,000 BTC in 30 days
The biggest bitcoin (BTC) holders, called "whales," sold more bitcoins than ever before in a single 30-day period. According to on-chain statistics compiled by Glassnode, these whales have spewed out a total of 280 BTC in the last 000 days.
Right now, the whales are believed to control around 9 million BTC, which is a significant proportion of the total BTC supply.
The price of Bitcoin may be affected by the selling of major holders, which wield considerable market power.
On-chain data from Glassnode confirms that the concentration of selling pressure is coming from BTC whales, as seen in the Trend Accumulation Score by Cohort indicator.
bitcoin price
The current price of Bitcoin is €16,727 and the 24-hour trading volume is €12 billion. The BTC/USD pair has gained almost 0,15% in the last 24 hours, while CoinMarketCap currently holds the top spot with a live market capitalization of €321 billion.