Bitcoin starts 2022 at $47.2K as fresh research pins performance on China trader exodus By Cointelegraph

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© Reuters.

(BTC) bears lost out at the last minute as 2021 came to an end — and consensus is building around China again being the reason for weakness.

1-hour candle chart (Bitstamp). Source: TradingView

Hours before the yearly close, BTC/USD dived $2,000 to lows of $45,630 on Bitstamp before a modest recovery drew a line under 2021 at $47,200, data from Cointelegraph Markets Pro and TradingView shows.

Bitcoin exchange BTC balance chart. Source: Coinglass