Confirmed Bitcoin Payments Hit Yearly Low During Holiday Season

The
number
of
confirmed
daily
Bitcoin
transactions
hit
the
lowest
point
in
a
year
yesterday,
confirming
a
period
of
decreased
activity
often
seen
during
the
holiday
season.

On
Dec.
26,
the
number
of
confirmed
Bitcoin
payments
dropped
to
623,434,
according
to

blockchain.com.

Confirmed
Bitcoin
payments
are
irreversible
once
the
blockchain
network’s
consensus
mechanism
accepts
them
and
includes
them
in
a
block.
The
number
of
confirmed
transactions
is
a
valuable
metric
used
for
analyzing
investor
activity
on
the
Bitcoin
network.

The
drop
in
confirmed
BTC
transactions
comes
after
the
price
of
Bitcoin
surged
earlier
this
month,
reaching
an
all-time
high
of
$108,000
on
Dec.
17.
Over
857,000
confirmed
payments
were
made
on
the
same
day,
which
is
37%
more
than
yesterday’s
623,000.

Following
the
drop
in
the
number
of
Bitcoin
transactions,
analysts
now
expect
a
price
recovery
above
$105,000
as
the
end
of
the
holiday
season
nears.

Bitcoin
Social
Sentiment
Hits
A
Yearly
Low

Another
signal
of
Bitcoin’s
potential
recovery
is
the
recent
drop
in
social
sentiment
to
a
yearly
low.
Earlier
this
month,
Bitcoin’s
social
sentiment
reached
its
lowest
point
in
2024,
with
an
average
ratio
of
four
positive
comments
to
every
five
negative
Bitcoin-related
comments.

However,
crypto
analysts
say
this
could
be
a
signal
of
an
upcoming
BTC
breakout.
When
considering
Bitcoin
price,
other
factors
are
more
important
than
“the
short-term
social
impact
of
greed
and
fear,”
Santiment
said
in
a
Dec.
26
X
post.

????‍????????
Bitcoin
has
jumped
to
as
high
as
$99.8K
on
a
bullish
Christmas
crypto
performance.
Traders
are
now
swinging
bullish
once
again,
with
speculation
of
$110K
getting
rampant.
Historically,
we
will
see
$110K
Bitcoin
only
after
the
crowd
doesn’t
expect
it,
as
this
image
shows.

pic.twitter.com/j4w3VQ4Zio

—
Santiment
(@santimentfeed)

December
26,
2024

President-elect

Donald
Trump’s
inauguration
on
Jan.
20,
2025,
could
serve
as
the
next
significant
catalyst
for
Bitcoin.

While
Bitcoin
is
still
facing
challenges
during
the
holiday
season,
investors
looking
for
other
opportunities
may
want
to
explore
presale
meme
coins
cu
has

Wall
Street
Pepe
(WEPE)
and

CatSlap
(SLAP).

The
frog-themed
coin
Wall
Street
Pepe
(WEPE)
recently
gained
attention
with
its
community-driven
approach,
strong
social
backing
and
mission
to
empower
small
retail
traders
to
trade
like
a
pro.
Meanwhile,
CatSlap
is
rapidly
graining
traction
in
the
market
with
its
viral
slap
game,
which
the
project’s
team
recently
added
a
slap-to-earn
element
to.
As
a
result,
players
will
be
able
to
earn
crypto
rewards
by
accumulating
slaps
in
the
game.

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