A whale reportedly sold a large amount of Bitcoin. He data from Lookonchain reveals that this anonymous investor bridged Bitcoin (BTC) and Ethereum, turning it into Wrapped Bitcoin (WBTC).
The whale has sold a total of 411 WBTC, worth approximately $15.2 million, at an average price of $37,023 per Bitcoin. Currently, the whale’s wallet still contains 155 WBTC, valued at around $5.74 million.
bulls and bears
The cryptocurrency market, often characterized by its volatility, is witnessing a tug of war between bulls and bears.
According to data from IntoTheBlock, the market has seen 111 bullish addresses, which are those that buy more than 1% of the trading volume in the last 24 hours. On the other hand, there are 114 bearish addresses, marked by selling more than 1% of the daily traded volume.
The market also saw a notable number of large transactions, defined as those above $100,000. Approximately 12,430 large transactions occurred in the last 24 hours, with a 7-day high reaching 22,570 transactions on November 9.
The total volume of these large transactions in Bitcoin amounted to 589,590 BTC in the last day, with a 7-day high of 1.06 million BTC. When converted to USD, the total volume of these transactions in the last 24 hours was around $21.81 billion, with a 7-day high of $39.02 billion.
Bitcoin price in limbo
Recent market activities have had an impact on the price of Bitcoin. As of now, Bitcoin is trading at $37,029.96, up a slight 0.3%, according to data from CoinGecko.
The market capitalization of the cryptocurrency is approximately $723.6 billion, with a 24-hour trading volume of around $12 billion.
The SEC’s impending decision on Bitcoin ETFs is set to be a major catalyst for the leading cryptocurrency. With a critical deadline approaching on November 17, the financial community anticipates that the SEC may issue approvals for multiple Bitcoin ETFs simultaneously.
