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 <p class="is-style-lead">Bitcoin (BTC) whale activity has dropped while the asset’s price surged to $35,000, with short positions still dominating.&nbsp;</p>
 <p>According to data from the market intelligence platform Santiment, <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> transactions of at least $100,000 worth of BTC declined by 7.8% over the past 24 hours — dropping from 5,506 transactions to 5,077.&nbsp;</p>
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   <img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2023/11/08/75966277d3c09e4b502e15af6abe6c25.webp" alt="Bitcoin price surpasses $35k again despite whale activity drop - 1"> 
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   BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, Binance funding rate, open interest and <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> – Nov. 8 | Source: Santiment
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 <p>The decline comes as the top 13 Bitcoin miners sold 5,492 coins — more than the number of BTCs mined in October, per a report on Nov. 7. The selloff came as the asset’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> noticed significant gains over the past three weeks.&nbsp;</p>
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 <p>Moreover, according to Santiment, Bitcoin’s total open interest on all exchanges slightly declined from around $7.3 billion to $7.2 billion over the past day.&nbsp;</p>
 <p>While the Binance funding rate for BTC stands at 0.01%, suggesting the domination of short position holders until further price movements, the exact amounts of short and long positions are still not clear, per data provided by Santiment.</p>
 <p>Bitcoin is up by 0.95% in the past 24 hours and is trading at around $35,300 at the time of writing. It’s important to note that the BTC price witnessed a daily local low and high of $34,545 and $35,505, respectively.</p>
 <p>Furthermore, Bitcoin’s market cap is over $689 billion, with a 51.8% market dominance. The asset’s 24-hour trading volume rose by 42%, reaching $18.7 billion.&nbsp;</p>
 <p>On the other hand, data provided by Santiment shows that the BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>-daily active addresses (DAA) divergence declined to negative 25.89%. The market intelligence platform suggests that a <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> DAA divergence below zero could indicate a “sell” signal, as the market might be driven by big <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-surpasses-35k-again-despite-whale-activity-drop-tbt69468.html">https://thebittimes.com/bitcoin-price-surpasses-35k-again-despite-whale-activity-drop-tbt69468.html</a></p>

Bitcoin price surpasses $35k again despite whale activity drop

TheBitTimes

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