Bitcoin

Bitcoin’s (<a href="https://crypto.news/price/bitcoin/">BTC</a>) price slightly declined while whale activity constantly showed downward momentum.&nbsp; 
According to an X post by the market analysis company CryptoQuant, <a href="https://crypto.news/significant-whale-stir-up-xrp-and-bitcoin-market/">whales</a> that led the downward trend in July 2022 haven’t been making moves lately. Per the post, these whales hold between 1,000 and 10,000 Bitcoins.&nbsp; 
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 Large-scale selling liquidity remains low. "Whales in the 1k~10k range that led the downward trend are still relatively quiet. Entities still exerting selling pressure are in the range of 10 to 100 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a>.." by <a href="https://twitter.com/mignoletkr?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@mignoletkr</a> <a href="https://t.co/QZrRlOYVkt" target="_blank">pic.twitter.com/QZrRlOYVkt</a>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1721382805085757536?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 6, 2023</a>
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The current selling pressure, according to CryptoQuant, comes from whales holding between 10 and 100 BTC. 
 You might also like: <a href="https://crypto.news/ftx-is-ready-to-sell-grayscale-and-bitwise-trust-assets/"> FTX is ready to sell Grayscale and Bitwise trust assets </a> 
Moreover, data from the market intelligence platform Santiment shows that the number of whale transactions consisting of at least $100,000 worth of Bitcoin has been constantly declining since Nov. 1 — witnessing a 65% downfall.&nbsp; 
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 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/Bitcoin-BTC-14.34.11-06-Nov-2023.png" alt="Bitcoin slides amid decrease in whale transactions - 22" class="wp-image-14212435">
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 BTC price, whale activity, open interest and Binance funding rate – Nov. 6 | Source: <a href="https://app.santiment.net/charts/3vvdYPFM__sCl" target="_blank" rel="noopener">Santiment</a>
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Per Santiment, there have been 2,290 transactions with $100,000 worth of BTC in the past 24 hours.&nbsp; 
Furthermore, the total open interest (OI) in BTC futures contracts has reached $6.9 billion per Santiment. 
According to the market intelligence platform, the Binance USDT funding rate for Bitcoin currently stands at 0.01%. This suggests that the amount of short positions is larger than long position holders.&nbsp; 
However, the exact amounts of short and long position holders is not specified.&nbsp; 
<a href="https://crypto.news/bitcoins-pullback-warning-sign-or-blip-on-the-radar/">Bitcoin</a> is down by 0.05% in the past 24 hours and is trading at around $35,100 at the time of writing. The asset reached a local top of $35,340 at around 23:00 UTC on Nov. 5. Bitcoin’s market dominance currently stands at 51.8%, with a total market cap of over $686 billion. 
BTC’s 24-hour trading volume rose 28% over the past day, reaching $12.5 billion. 
 Read more: <a href="https://crypto.news/top-assets-to-watch-this-week-egld-sol-arb/"> Top assets to watch this week: EGLD, SOL, ARB </a>

Bitcoin slides amid decrease in whale transactions

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