 Confirmed Bitcoin payments hit yearly low amid holiday illiquidity 
2024-12-27
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Daily Bitcoin payments have sunk to a yearly low, illustrating the period of illiquidity characteristic of the holiday season.
Confirmed Bitcoin BTCUSD payments sunk to 623,434 daily payments on Dec. 26, marking the lowest point of the year, according to data from blockchain.com 
Confirmed Bitcoin payments are transactions that the blockchain network’s consensus mechanism has accepted and included in a block, making it irreversible.
Metrics like the number of confirmed payments can be used to gauge investor activity on the Bitcoin network.
On Dec. 17, Bitcoin price crossed the $108,000 all-time high, securing over 857,000 confirmed payments, which is 37% over yesterday’s 623,000 confirmed BTC payments.
Meanwhile, Bitcoin analysts are expecting an imminent price recovery above $105,000 as we enter the end of the holiday period, often associated with low institutional liquidity.
Weak Bitcoin social sentiment points to an imminent price recovery
The weak social sentiment around Bitcoin also suggests an imminent recovery for the world’s largest cryptocurrency.
Social sentiment around Bitcoin fell to its lowest level of 2024, to an average ratio of four to five positive versus negative Bitcoin-related comments, Cointelegraph reported on Dec. 22
However, this low retail investor sentiment could be a sign of an incoming Bitcoin breakout, wrote market intelligence platform Santiment in a Dec. 22 X post:

Other crypto analysts are also expecting an end to Bitcoin’s correction under $100,000. On Dec. 20, Bitcoin’s daily chart produced three consecutive red candles for the first time since the first week of November, which coincidentally was the lead-up period to Donald Trump’s US election victory.
Bitcoin’s current downtrend is an organic symptom of the holiday illiquidity, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph:
President-elect Donald Trump’s inauguration could be the next significant Bitcoin catalyst on Jan. 20, 2025.
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