Bitcoin holds above $34k, sell signal is still there
Bitcoin (BTC) gained bullish traction two weeks ago with the high anticipation of the spot ETF approval, but a key indicator still shows high volatility for the asset. According to data provided by the market intelligence platform Santiment, Bitcoin’s whale activity and social volume dropped significantly over the past week. The plunge comes while the flagship cryptocurrency took a notable dive from the $35,000 mark to almost $33,000 on Oct. 26. BTC price, whale and social activity – Oct. 30 | Source: Santiment Per Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC declined by 53% over the past week — currently standing at 3,731 unique trades. Quite similarly, Bitcoin’s social activity also witnessed a significant decline over the past week, marking a 57% plunge. You might also like: Floki up 13% as devs launch RWA platform On the other hand, the total BTC supply on exchanges witnessed a small rise. According to ...