Bitcoin Breaks Above $51,000 for the First Time in Nearly 3 Weeks

On Friday (December 24), we could be seweing the signs of the start of a very late Santa Claus rally as the Bitcoin price has surged above $51K for the first time since December 4.

According to data by TradingView, on crypto exchange Bitstamp, the $BTC price got as high as $51,392 at 2:05 a.m. UTC. Currently (as of 7:20 a.m. UTC), Bitcoin is trading around $51,032 at 07:20 UTC, up 5.33% in the past 24-hour period.

Prominent Russian crypto analyst “Lex Moskovski” used data from blockchain analytics startup Glassnode to point out that $BTC wallets with balances between 100 and 1000 bitcoins seem to be continuing to buy more $BTC:

And popular pseudoanymous crypto analyst “Altcoin Sherpa” offered technical analysis of Bitcoin’s price action to his overb 158K Twitter followers:

On-chain and social analytics startup Santiment says that Bitcoin’s move above the $51K level has turned traders’ sentiment positive.

On Tuesday (December 21), Michael J. Saylor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), disclosed that his firm had bought abother 29,646 bitcoins for around $650 million at an average price of $21,925 per $BTC, bringing its total $BTC holdings to 70,470 bitcoins.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured Image by “SnapLaunch” via Pixabay

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