Whales have redistributed 140 000 BTC in two weeks

The total amount of transactions during this period amounted to about $2,25 billion

11.11.2022 - 10:00

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What’s new? Over the past two weeks, large bitcoin holders with wallets containing between 1000 and 10 000 BTC have sold or redistributed about 140 000 coins. The total mount of transactions during this period amounted to about $2,25 billion, according to data from analytics company Santiment as of November 10.

Source: Twitter.com

BTC situation. Also on November 10, the bitcoin rate fell to a two-year low of $15 780. The fall occurred against the background of the news about the refusal of the Binance exchange to take over FTX after the due diligence. In this, exactly one year ago, on November 10, 2021, bitcoin set an all-time high (ATH) at $69 000.

As of November 11, 09:55 UTC, the asset is trading 74,79% below ATH, at $17 396, with a daily decline of 4,04%, according to Binance. BTC has a market capitalization of $333,39 billion.

Analysts at JPMorgan believe that the collapse of the FTX exchange could push bitcoin to fall to $13 000. And research firm Fundstrat suggested that high market volatility would bring the asset’s rate below $10 000.

GetBlock Magazine found out from experts when BTC will be able to update its all-time high. Read their opinions at the link.

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