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Bitcoin is boxing up to $25,000

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The flagship crypto bitcoin is boxing up! Traded at $24,845.80 with a daily trading volume of $44,952,165,090. Bitcoin is up 5.76% for the day.

The world’s most popular crypto is having a run not seen in the crypto-verse, especially on boxing day.

At the time of writing this report, the flagship crypto traded at $24,845.80 with a daily trading volume of $44,952,165,090. Bitcoin is up 5.76% for the day. The current market value of Bitcoin stands at $461,665,773,109.

What you must know: The flagship cryptocurrency is mainly decentralized, the first of its kind, and created by Satoshi Nakamoto. It was launched around January 2009.

Bitcoin is fired up on all cylinders, smashing its past record highs at the speed of light, and it seems the momentum trade is strengthening as mass media outlets embrace crypto coverage, on the bias that the flagship crypto rallied to an all-time high today and appears poised to take out the $25,000 level.

READ more:  10% of institutional JP Morgan investors trade bitcoin and cryptocurrencies
The flagship crypto bitcoin is boxing up! Traded at $24,845.80 with a daily trading volume of $44,952,165,090. Bitcoin is up 5.76% for the day.The world’s most popular crypto is having a run not seen in the crypto-verse, especially on boxing day.

Recall some hours ago, BTC the institutional investors’ most favorite crypto, peaked at $24,661.76 on Bitstamp, a British-based crypto exchange, surpassing the previous high recorded about a week ago. The altcoin market also rebounded, with Ethereum (ETH), and Litecoin (LTC) posting impressive rallies.

Meanwhile, it seems a significant amount of Bitcoin owners are keeping the world’s most popular crypto for wealth preservation rather than as a utility tool, as data retrieved from Glassnode, revealed  Bitcoin  Percent Supply Last Active 1+ Years just reached a 7-month low of 59.601%, meaning Btc is becoming scarce.

This is partly why the price keeps increasing.

  • The previous 7-month low of 59.603% was observed on 24 December 2020.

Metric description: The percent of circulating supply that has not moved in at least 1 year.

Source:
Nairametrics

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The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
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Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
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