Bitcoin Price and Ethereum Prediction; CB Consumer Confidence in Highlights
During the Asian session on December 21, Bitcoin price prediction remains bearish under $17,000, as investors await US consumer confidence data. Similarly, Ethereum traded bullish to $1,220, but the bulls appear to be exhausted, keeping ETH below the $1,222 resistance.
The global crypto market cap gained 1.50 percent to $811.88 billion on the previous day, as major cryptocurrencies traded in the green early on December 21. The overall crypto market volume over the last 24 hours has increased by 9.38 percent to $36.06 billion.
The entire volume in DeFi is currently $1.71 billion, accounting for 4.74 percent of the overall 24-hour volume in the crypto market. The overall volume of all stablecoins is now $33.20 billion, accounting for 92.08 percent of the total 24-hour volume of the crypto market.
In spite of the collapse of some well-known enterprises, retail investors have amassed more Bitcoin this year. Bitcoin long-term holders also control a record proportion of the currency. When it comes to crypto, things aren't always bleak. Despite a price drop of 75%, Bitcoin's on-chain metrics remain good.
Glassnode's on-chain data shows that the percentage of BTC held by retail traders has hit an all-time high of 17%. Retail investors are individuals who have less than ten bitcoin in their wallets, according to the business.
In addition, the data shows a dramatic increase in retail ownership during the past month. Will Clemente, the co-founder of Reflexivity Research, made the following observation on December 20:
“Not perfect yet, but solid for a 12-year-old asset and definitely trending in the right direction.”
Whenever the media starts spreading fear, uncertainty, and doubt (FUD), retail investors are often the first to sell (fear,
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