Bitcoin Experiences Fifth Consecutive Weekend Price Drop, | Robins Diamond on Binance Square

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Bitcoin Experiences Fifth Consecutive Weekend Price Drop, Standard Chartered Analyst Predicts Reversal This Week$BTC 
BTC
90,328.47
-2.47%
$BNB 
BNB
871.12
-2.49%
$ETH 
ETH
3,203.46
-3.53%

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Why is the market down today? -> TLDR The crypto market fell 5.04% over the last 24h, extending a 9.29% weekly decline. Bearish catalysts include whale sell-offs, regulatory uncertainty, and a risk-off shift in derivatives. Whale profit-taking – OG Bitcoin holders sold 17,265 BTC ($1.8B+) in 24h. Derivatives unwinding – Perpetuals open interest fell 6.4%, signaling deleveraging. Institutional outflows – BTC ETF AUM dropped $3.1B (-2%) this week. 1. Whale Sell-Offs (Bearish Impact) Overview: Long-term Bitcoin holders ("OG whales") offloaded 17,265 BTC ($1.8B+) on November 3, including a single 13,000 BTC ($1.48B) transfer to exchanges. This follows a 56,000 BTC deposit by megawhales earlier in the week What it means: Such concentrated selling creates immediate supply overhang. Historically, whale deposits above 10,000 BTC correlate with 7-15% price declines 2. Derivatives Deleveraging (Mixed Impact) Overview: Perpetuals open interest fell 6.4% ($54B) in 24h, while funding rates turned negative (-0.00013674%). This signals traders are closing leveraged longs rather than opening new shorts. What it means: While reducing systemic risk, the lack of new short positions suggests weak conviction in a rebound. The 24h spot-perps ratio (0.23) remains near yearly lows, indicating minimal spot buying. 3. Regulatory Uncertainty (Bearish Impact) Overview: Hong Kong’s move to connect crypto exchanges to global order books (Bitcoinist) was overshadowed by INTERPOL’s $562M Africa crypto-terrorism bust and the Balancer protocol’s $128M hack. The Balancer exploit particularly rattled DeFi sentiment, with TVL dropping 46% in hours. Conclusion The sell-off reflects profit-taking by early BTC holders, reduced institutional participation, and event-driven risk aversion. With Bitcoin dominance at 60.16% (30d high), capital preservation remains the theme. Watch BTC’s $106,124 support – a breach could trigger altcoin capitulation$BNB Comment down Your Thought $BTC $SOL #SolanaETFInflows

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❕ Over $242,000,000 in long positions were liquidated in the past 4 hours. $BTC $BNB $SOL #MarketPullback #AltcoinETFsLaunch #BNBBreaksATH #MarketPullback #FOMCMeeting

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