Over the past few weeks, bitcoin volatility has held at a two-year low.
The largest digital currency by the end of 2022 was able to find the bottom in the region of $16,000.
The main factor signaling that the bottom has been reached was an increase in the number of unprofitable addresses on the network. This share exceeded 50% by the end of December.
BTC met the year 2023 at values above $16,000, the coin is trying to approach $17,000 and may break the resistance in this area today.
A similar situation was observed in January 2015 and 2018. Analytics don’t rule out drawdowns in the coming weeks, but bitcoin is unlikely to face a rollback below $16,000.
At this stage, traders do not seek to increase capital investments in BTC, data from BitInfoCharts indicate a weakening of their activity.
The average daily number of transactions on the blockchain fell to 187,361 the day before — this is the lowest level since January 2022.
Analysts drew attention to the weakening of whale activity last week. In their opinion, a sharp drop in the number of transactions (in the amount of $ 1 million) signals that there will be no large bitcoin movements in January.
