* Low confidence in Bitcoin prices as year end approaches * Perpetual Futures Funding Rates have declined as derivatives traders are more cautious * Average Social Sentiment is

* Weekend sell-off driven by liquidations in the futures market * Long-term holders continue holding as Short-term holders realized large losses * Whales bought the dip Bitcoin Weekly

* Bitcoin Price significantly dropped from $57k to $42k within an hour * Prices have stabilised between a range of $47k to $49k * Spot selling triggered long

Bitcoin Weekly Price Action * After increasing to $59k levels, prices suddenly dropped by 8% after news broke out of the new Omicron Covid variant * Prices

* The majority of the Bitcoin supply is stored off-exchange * The investors controlling this supply are not selling * Price action is primairly influenced by swing traders