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Whales panic as market corrects

Whales panic as market corrects

Bitcoin and Ethereum have been struggling as October came to an end, triggering fear, doubt and uncertainty among large holders.

Bitcoin (BTC) dropped 1.75% in the past 24 hours and is trading at $68,500 at the time of writing. Its market cap is currently sitting at the $1.35 trillion mark with a daily trading volume of $23 billion.

According to data provided by IntoTheBlock, the daily amount of whale transactions, consisting of at least $100,000 worth of BTC, have started to decline with the asset’s price fall—plunging from $67.8 billion on Oct. 29 to $21.1 billion on Nov. 2.

Bitcoin, Ethereum fall: Whales panic as market corrects - 1
Large BTC transactions | Source: IntoTheBlock

Ethereum (ETH), the leading altcoin, recorded a similar momentum to Bitcoin. ETH…

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