Bitcoin's price dipped nearly 2% to around $71,000 on October 31, as US macroeconomic data failed to boost market optimism. The Personal Consumption Expenditures (PCE) index for September came in line with expectations, but traders remained cautious. The anticipation of a delayed Federal Reserve interest rate cut on November 7 contributed to the market's subdued reaction. According to analysts, Bitcoin whales reduced their BTC exposure significantly, resulting in over $500 million in open interest being wiped out due to the recent price movement. This trend contrasts sharply with the previous week's accumulation activity among whale groups. As the month approaches its end, Bitcoin is still up more than 13% month-to-date, but analysts predict increased volatility with upcoming US nonfarm payroll figures expected on November 1. The current market environment remains uncertain as traders await further economic indicators.

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