{"id":564260,"date":"2023-12-07T00:00:03","date_gmt":"2023-12-07T00:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=564260"},"modified":"2024-06-11T11:16:39","modified_gmt":"2024-06-11T11:16:39","slug":"bitcoin-poised-for-december-surge-as-historical-patterns-suggest-strong-upside-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-poised-for-december-surge-as-historical-patterns-suggest-strong-upside-ahead\/","title":{"rendered":"Bitcoin Poised For December Surge As Historical Patterns Suggest Strong Upside Ahead"},"content":{"rendered":"

As the eagerly awaited Bitcoin (BTC)<\/span> exchange-traded fund<\/span><\/a> (ETF) verdict approaches, excitement and anticipation continue to grow in the cryptocurrency market.\u00a0<\/span><\/p>\n

According to a <\/span>report <\/span><\/a>by K33 Research, the upcoming decision, expected between January 8 and January 10, has been a significant factor behind Bitcoin’s positive momentum since October. Institutional demand remains robust, with traditional investors strongly interested in adding long BTC exposure.\u00a0<\/span><\/p>\n

Bitcoin Set For Bullish December?\u00a0<\/span><\/h2>\n

Bitcoin has displayed a notable tendency to surge higher in the lead-up to major events, creating a sense of enthusiasm and<\/span> driving prices upward<\/span><\/a>. This phenomenon has been observed across various significant milestones in the cryptocurrency’s history.\u00a0<\/span><\/p>\n

According to the report, examples include Bitcoin’s peak coinciding with the launch of the Chicago Mercantile Exchange’s (CME) BTC futures in 2017, its spike coinciding with Coinbase’s public listing in April 2021, and its peak on the day El Salvador declared Bitcoin legal tender in September 2021.<\/span><\/p>\n

Similarly, Bitcoin reached its peak on the date of VanEck’s spot ETF <\/span>deadline <\/span><\/a>in November 2021. These instances highlight the potential for Bitcoin to experience significant price movements as the ETF verdict draws near<\/span>.<\/span><\/p>\n

Related Reading: Solana-Powered Helium (HNT) Spikes By 145%, Analyzing The Drivers Of The Surge<\/a><\/div>\n

The report emphasizes the substantial demand from institutional investors seeking <\/span>exposure <\/span><\/a>to Bitcoin. BTC exchange-traded products (ETPs) witnessed inflows of nearly 40,000 BTC in November, while CME open interest reached and maintained all-time highs. Futures premiums have also surged to 20%, indicating the strong interest from institutional players.\u00a0<\/span><\/p>\n

In contrast, retail participation has shown signs of stagnation. Offshore flows have remained shallow, and Bitcoin-denominated open interest in BTC perpetual contracts is currently at yearly lows. These factors suggest that institutional flows continue to be the driving force behind Bitcoin’s solid market strength.<\/span><\/p>\n

Based on the historical pattern of event-driven price movements and the sustained institutional demand, the report maintains a positive outlook for Bitcoin in December.\u00a0<\/span><\/p>\n

As the ETF <\/span>verdict <\/span><\/a>approaches, K33 Research\u2019s report suggests that the narrowing time window is expected to fuel enthusiasm and drive prices higher. However, it is worth noting that once the event occurs, prices may experience a temporary surge before potentially stabilizing, according to the report.\u00a0<\/span><\/p>\n

\u00a0BTC\u2019s Bull Run Indicator<\/span><\/h2>\n

Renowned crypto analyst Ali Martinez has <\/span>identified <\/span><\/a>a significant development in the Bitcoin market that suggests a bullish outlook for the cryptocurrency.\u00a0<\/span><\/p>\n

According to Martinez, the Realized Price of Bitcoin has surpassed the Long-Term Holder Realized Price, signaling an increase in market momentum and attracting new investors willing to purchase Bitcoin at higher prices.\u00a0<\/span><\/p>\n

Martinez’s analysis highlights that similar occurrences in the past have preceded substantial price surges, further fueling optimism regarding Bitcoin’s future performance.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC’s macro bullish indicator. Source: Ali Martinez on X.<\/a><\/figcaption><\/figure>\n

The Realized Price of Bitcoin refers to the average price at which all previously transacted coins were acquired. It considers the price at which each Bitcoin unit was last moved on the blockchain.\u00a0<\/span><\/p>\n

On the other hand, the Long-Term Holder Realized Price focuses specifically on coins held by long-term investors, providing insights into their average acquisition price.\u00a0<\/span>When the Realized Price surpasses the Long-Term Holder’s Realized Price, it suggests that newer investors are entering the market and are willing to buy Bitcoin at higher valuations.<\/span><\/p>\n

Related Reading: Tether (USDT) Cap Approaches $90 Billion: Why This Affects Bitcoin<\/a><\/div>\n

As seen in the above chart, Bitcoin experienced significant gains following this bullish signal on three separate occasions in the past<\/span>. Specifically, the cryptocurrency surged 12,736%, 4,474%, and 819%, respectively, following similar events.\u00a0<\/span><\/p>\n

\"Bitcoin
The 1-day chart shows BTC’s stable price action above $44,000. Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

In addition to Martinez’s bullish outlook for BTC, the largest cryptocurrency on the market has demonstrated relatively stable price action above $44,000 in the past hour.\u00a0<\/span><\/p>\n

This stability increases the potential for continued upside and consolidation above key levels, positioning Bitcoin for further gains and surges in the future. It remains to be seen if the cryptocurrency will see any corrections following its impressive 16% surge over the past few days.\u00a0<\/span><\/p>\n

Featured image from Shutterstock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As the eagerly awaited Bitcoin (BTC) exchange-traded fund (ETF) verdict approaches, excitement and anticipation continue to grow in the cryptocurrency market.\u00a0 According to a report by K33 Research, the upcoming decision, expected between January 8 and January 10, has been a significant factor behind Bitcoin’s positive momentum since October. Institutional demand remains robust, with traditional investors strongly interested in adding long BTC exposure.\u00a0 Bitcoin Set For Bullish December?\u00a0 Bitcoin has displayed a notable tendency to surge higher in the lead-up to major events, creating a sense of enthusiasm and driving prices upward. This phenomenon has been observed across various significant milestones in the cryptocurrency’s history.\u00a0 According to the report, examples include Bitcoin’s peak coinciding with the launch of the Chicago Mercantile Exchange’s (CME) BTC futures in 2017, its spike coinciding with Coinbase’s public listing in April 2021, and its peak on the day El Salvador declared Bitcoin legal tender in September 2021. Similarly, Bitcoin reached its peak on the date of VanEck’s spot ETF deadline in November 2021. These instances highlight the potential for Bitcoin to experience significant price movements as the ETF verdict draws near. Related Reading: Solana-Powered Helium (HNT) Spikes By 145%, Analyzing The Drivers Of The Surge The report emphasizes the substantial demand from institutional investors seeking exposure to Bitcoin. BTC exchange-traded products (ETPs) witnessed inflows of nearly 40,000 BTC in November, while CME open interest reached and maintained all-time highs. Futures premiums have also surged to 20%, indicating the strong interest from institutional players.\u00a0 In contrast, retail participation has shown signs of stagnation. Offshore flows have remained shallow, and Bitcoin-denominated open interest in BTC perpetual contracts is currently at yearly lows. These factors suggest that institutional flows continue to be the driving force behind Bitcoin’s solid market strength. Based on the historical pattern of event-driven price movements and the sustained institutional demand, the report maintains a positive outlook for Bitcoin in December.\u00a0 As the ETF verdict approaches, K33 Research\u2019s report suggests that the narrowing time window is expected to fuel enthusiasm and drive prices higher. However, it is worth noting that once the event occurs, prices may experience a temporary surge before potentially stabilizing, according to the report.\u00a0 \u00a0BTC\u2019s Bull Run Indicator Renowned crypto analyst Ali Martinez has identified a significant development in the Bitcoin market that suggests a bullish outlook for the cryptocurrency.\u00a0 According to Martinez, the Realized Price of Bitcoin has surpassed the Long-Term Holder Realized Price, signaling an increase in market momentum and attracting new investors willing to purchase Bitcoin at higher prices.\u00a0 Martinez’s analysis highlights that similar occurrences in the past have preceded substantial price surges, further fueling optimism regarding Bitcoin’s future performance.\u00a0 The Realized Price of Bitcoin refers to the average price at which all previously transacted coins were acquired. It considers the price at which each Bitcoin unit was last moved on the blockchain.\u00a0 On the other hand, the Long-Term Holder Realized Price focuses specifically on coins held by long-term investors, providing insights into their average acquisition price.\u00a0When the Realized Price surpasses the Long-Term Holder’s Realized Price, it suggests that newer investors are entering the market and are willing to buy Bitcoin at higher valuations. Related Reading: Tether (USDT) Cap Approaches $90 Billion: Why This Affects Bitcoin As seen in the above chart, Bitcoin experienced significant gains following this bullish signal on three separate occasions in the past. Specifically, the cryptocurrency surged 12,736%, 4,474%, and 819%, respectively, following similar events.\u00a0 In addition to Martinez’s bullish outlook for BTC, the largest cryptocurrency on the market has demonstrated relatively stable price action above $44,000 in the past hour.\u00a0 This stability increases the potential for continued upside and consolidation above key levels, positioning Bitcoin for further gains and surges in the future. It remains to be seen if the cryptocurrency will see any corrections following its impressive 16% surge over the past few days.\u00a0 Featured image from Shutterstock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":564262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85533,485,656,679,7561,6047,680,681,6596,682,5361,685,7756,755,768,1119,1144,8390,78790,6664,1558,6217,5856],"class_list":["post-564260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-4-hours-chart","tag-bitcoin-price-action","tag-bitcoin-price-analysis","tag-bitcoin-price-bias","tag-bitcoin-price-break","tag-bitcoin-price-chart","tag-bitcoin-price-charts","tag-bitcoin-price-fluctuations","tag-bitcoin-signals","tag-bitcoin-technical-analysis","tag-bitcoin-trading","tag-btc","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-cryptocurrency","tag-latest-bitcoin-news","tag-newsbtc-bitcoin-news"],"acf":[],"yoast_head":"\nBitcoin 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