Bitcoin's Long-Term Buyers Accumulate Amid Market Liquidity Challenges
Accumulator wallets purchased 75,000 BTC between December 1 and 10, including a notable 40,000 BTC bought in a single day. Despite the ongoing market activity, the crypto ecosystem faces significant unrealized losses totaling about $350 billion, with Bitcoin's unrealized losses comprising approximately $85 billion. Short-term holders are currently 20–30% underwater, which indicates a shift of wealth towards long-term holders.
Market liquidity is increasingly tight, with thin order books suggesting a high-volatility period as the holiday season approaches. The Federal Reserve's monthly $40 billion Treasury bill purchases provide technical liquidity support but are not aimed at boosting crypto market momentum. Analysts anticipate that a looser monetary policy environment will drive a low-liquidity price increase, characterized by more buying than selling, in 2025.
Bitcoin is trading around $92,250, reflecting an approximate 2.4% gain over the last 24 hours.
