The Crypto fraternity is having a keen look at the current position of Bitcoin to evaluate when the flagship asset would commence with the next bull run. Especially, folks across the space are pretty ecstatic to know the approximate BTC’s price on 31st December . Though there is a possibility of a price death cross, stats signify a bullish outlook.
A crypto metric platform IntotheBlock confirms a decent upsurge in the accumulation of the asset. Especially, coins moving out of exchanges are dominating with massive buy orders worth $7.65 billion over the past week. Whilst net network growth and cash flow remain bullish, a rise in Open Interest, Miners Confidence, and Cash Inflow would further catalyze the price action.
Will Bitcoin Price Hit $54k Or $48k On December 31st?
Bitcoin price has been trading within a narrow range-bound scale between $46k to $49k . Although there have been signs of bullish divergence , the asset needs to cross certain barriers. A crypto metric platform Cryptoquant has exposed the potential options expiry worth of $24 billion on December 31st.
Today's BTC QuickTake (2021/12/22)