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In its December overview,@BinanceResearchdiscusses the absence of a 2019 "Santa Claus Rally" in crypto-markets.
The expansion of$BUSD,#BinanceCollectibles, and the opposition between bulls and bears in the$BTCmarket are also investigated. from Binance TradingDecember was one of the morepolarising monthsin recent memory in terms of opinions split about BTC’s price direction. As BTC hovered at the $7,250 mark, there was the debate about whether BTC would reach $6,500 or $8,000 first. We asked this question on a poll in the Binance Trading Telegram channel, and opinions were split almost exactly 50-50. The bears ended up being correct as BTC did reach $6,500 on Dec 18, but found strong support at this level and shot back up almost immediately to above $7,100. We enter 2020 with virtually the same question we had in our poll, and it seems that BTC may berange-bound for longerthan many have expected.
Going into OTC flows, December started with afew sizeable BTC sells. We thought this could kickstart increased sell pressure on BTC, but prices held up well. As BTC moved sideways,sell flows for small-cap altcoinswere dominant. Large-cap altcoins likeETH and XRP, on the other hand, werein demandand saw a higher than usual amount of buy flows.
BNB also saw a high amount of buy flows this month, notably when prices first dipped below $15. There was another round of buy flows when prices dropped below $13. Starting from a few days before Christmas to the end of the month, two-way flows for BTC picked up. Buyers may have been anticipating a Santa or an end-of-the-year rally, and sellers may have turned bearish after seeing BTC fail to pick up steam throughout December. It will be interesting to seewhether BTC makes any significantmovements in either direction in January, after a historically unusually calm December.