Bitcoin price rose 4% on Thursday, breaching the $97,000 mark after opening at $91,947 on Wednesday.
The cryptocurrency sector’s valuation shrank $60 billion to hit $3.2 trillion on Thursday. Bitcoin Dominance increased by 0.40% on the daily timeframe, signaling that BTC demand surpassed altcoins. Crypto market liquidations hit $263 million on Thursday, with $145 million in long liquidations representing 55% of the losses.
Since then, whale demand for SHIB has entered a steep decline. The latest data shows the Shiba Inu blockchain saw only 229 large transactions on the SHIB network on November 27, reflecting an 85% drop-off in whale demand since Trump announced the DOGE on X. Whale transactions provide crucial liquidity, absorbing sell pressure and enabling retail traders to execute high volumes of transactions with minimal price impact.
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