A whale has reportedly sold a large amount of Bitcoin. The data from Lookonchain reveals that this anonymous investor bridged Bitcoin (BTC) to Ethereum, converting it to Wrapped Bitcoin (WBTC). 

The whale has sold a total of 411 WBTC, amounting to approximately $15.2 million, at an average price of $37,023 per Bitcoin. Currently, the whale's wallet still holds 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 IntoTheBlock data, the market has seen 111 bullish addresses, which are those buying more than 1% of the trading volume in the last 24 hours. On the other hand, there are 114 bearish addresses, marked by their selling of over 1% of the daily traded volume. 

The market also observed a notable number of large transactions, defined as those above $100,000. The last 24 hours saw approximately 12,430 large transactions, with a 7-day high reaching 22,570 transactions on Nov. 9. 

The total volume of these large transactions in Bitcoin amounted to 589,590 BTC in the last day, with a 7-day high at 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 peak of $39.02 billion.

Bitcoin price in limbo

The recent activities in the market have had an impact on Bitcoin's price. As of now, Bitcoin is trading at $37,029.96, marking a slight 0.3% increase, according to CoinGecko data. 

The cryptocurrency's market cap stands at approximately $723.6 billion, with a 24-hour trading volume of around $12 billion. 

The impending decision on Bitcoin ETFs by the SEC is poised to be a major catalyst for the top cryptocurrency. With a critical deadline approaching on November 17, the financial community anticipates that the SEC may issue approvals for multiple Bitcoin ETFs simultaneously.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].