Bitcoin
Bitcoin (BTC)
$65,786.00 -2.38895
Bitcoin price
Ethereum
Ethereum (ETH)
$3,422.77 -1.19093
Ethereum price
BNB
BNB (BNB)
$581.95 -1.87905
BNB price
Solana
Solana (SOL)
$173.52 -4.34669
Solana price
XRP
XRP (XRP)
$0.5926490 -3.89204
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000170 -3.95691
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -3.52168
Pepe price
Bonk
Bonk (BONK)
$0.0000276 -9.89394
Bonk price
Bitcoin
Bitcoin (BTC)
$65,786.00 -2.38895
Bitcoin price
Ethereum
Ethereum (ETH)
$3,422.77 -1.19093
Ethereum price
BNB
BNB (BNB)
$581.95 -1.87905
BNB price
Solana
Solana (SOL)
$173.52 -4.34669
Solana price
XRP
XRP (XRP)
$0.5926490 -3.89204
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000170 -3.95691
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -3.52168
Pepe price
Bonk
Bonk (BONK)
$0.0000276 -9.89394
Bonk price
Bitcoin
Bitcoin (BTC)
$65,786.00 -2.38895
Bitcoin price
Ethereum
Ethereum (ETH)
$3,422.77 -1.19093
Ethereum price
BNB
BNB (BNB)
$581.95 -1.87905
BNB price
Solana
Solana (SOL)
$173.52 -4.34669
Solana price
XRP
XRP (XRP)
$0.5926490 -3.89204
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000170 -3.95691
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -3.52168
Pepe price
Bonk
Bonk (BONK)
$0.0000276 -9.89394
Bonk price
Bitcoin
Bitcoin (BTC)
$65,786.00 -2.38895
Bitcoin price
Ethereum
Ethereum (ETH)
$3,422.77 -1.19093
Ethereum price
BNB
BNB (BNB)
$581.95 -1.87905
BNB price
Solana
Solana (SOL)
$173.52 -4.34669
Solana price
XRP
XRP (XRP)
$0.5926490 -3.89204
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000170 -3.95691
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -3.52168
Pepe price
Bonk
Bonk (BONK)
$0.0000276 -9.89394
Bonk price

Bitcoin holds above $34k, sell signal is still there

bitcoin-holds-above-34k-sell-signal-is-still-there
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Markets
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.

Bitcoin holds above $34k, sell signal is still there - 1
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. 

On the other hand, the total BTC supply on exchanges witnessed a small rise. According to Santiment, there are around 1.12 million Bitcoins on all exchanges at the time of writing. Historically, the supply on exchanges rises when early investors try to withdraw funds at a favorable price or a significant number of new investors purchase an asset on the platforms.

Consequently, Bitcoin’s price-daily active addresses (DAA) divergence shows a sell signal while the market enters the “greed” zone. Per Santiment, the asset’s price DAA divergence currently stands at negative 94.9%.

Bitcoin is up by 0.4% in the past 24 hours and is trading at $34,230 at the time of writing. BTC’s market cap stands at $668 billion with a 53% market dominance. The asset’s 24-hour trading volume has also seen a 38% surge, surpassing the $13 billion mark. 

As the bullish trend comes, VanEck advisor Gabor Gurbacs believes that El Salvador could become the “Singapore of the Americas” while high-profile ETF applications await in the United States.