Bitcoin whales holding between 10 and 10,000 BTC accumulated 88,987 BTC over the past month, pushing their collective holdings to a six-month high above 13.69 million BTC. Bitcoin’s price consolidates around $82,000, unable to break through the $83,782 resistance level and the Bollinger Bands middle line at $83,231. Deribit’s DVOL Index closed at 37.33, below 92% of daily readings since March 2021, reflecting historically low volatility expectations. Despite this, November’s 25-delta Risk Reversal stands at -3.19, indicating traders continue paying more for downside protection, with long liquidations reaching $30.79 million compared to $13.68 million for short positions.
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