{"id":547540,"date":"2023-08-16T19:00:37","date_gmt":"2023-08-16T19:00:37","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=547540"},"modified":"2024-06-11T08:13:04","modified_gmt":"2024-06-11T08:13:04","slug":"bitcoin-whales-selling-metric-may-suggest-so","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/bitcoin-whales-selling-metric-may-suggest-so\/","title":{"rendered":"Are Bitcoin Whales Selling? This Metric May Suggest So"},"content":{"rendered":"

On-chain data shows the Bitcoin exchange whale ratio has spiked, a sign that the whales may be selling now.<\/p>\n

Bitcoin Exchange Whale Ratio Has Gone Up In Recent Days<\/h2>\n

An analyst in a CryptoQuant post<\/a> explained that the whale inflows have been higher than usual recently. The “exchange whale ratio<\/a>” is an indicator that measures the ratio between the sum of the top 10 inflows to exchanges and the total exchange inflows<\/a>.<\/p>\n

Generally, the ten most significant transactions going to exchanges are coming from the whales<\/a>, so this ratio’s value can provide hints about how the inflow activity of these humongous investors currently compares with the entire market.<\/p>\n

When the value of this metric is high, it means that this cohort is making up a significant part of the total market inflows. As one of the main reasons investors deposit their coins to these platforms is for selling-related purposes, this trend can be a sign that the whales are currently applying a large amount of selling pressure.<\/p>\n

On the other hand, low values imply the whales are making up for a relatively healthy portion of the total inflows. Depending on other market factors, such a trend may be neutral or bullish for the cryptocurrency’s price.<\/p>\n

Related Reading: This Dreaded Candlestick Formation Just Printed: Bitcoin To $18k?<\/a><\/div>\n

Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of years:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have hit a high peak in recent days | Source: CryptoQuant<\/a><\/pre>\n
The above graph shows that the Bitcoin exchange whale ratio has recently registered a spike. In this latest surge, the metric had neared the 0.70 mark, implying that almost 70% of the total exchange inflows had come from these humongous investors alone.<\/p>\n
If these whales have made these deposits to sell their coins, then BTC could naturally feel a bearish effect from this inflow activity. So far, however, the price hasn’t seen any significant decline, as it continues to be within the range it has been endlessly consolidating for the past few weeks.<\/p>\n
Related Reading: Renowned Finance Author Says Bitcoin Price Will Reach $1 Million If This Happens<\/a><\/div>\n
In the chart, the quant has also highlighted the instances during the last couple of years where the Bitcoin exchange whale ratio spiked to similarly high values.<\/p>\n
It would appear that the BTC price declined shortly after most of these occurrences. In some instances, the bearish effect only occurred with a delay, meaning that even though the recent spike hasn’t led to a significant price drawdown, it could still do so soon.<\/p>\n
It remains to be seen how the Bitcoin market copes with this potential high selling pressure from the whales this time.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $29,000, down 2% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has continued to move sideways recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Todd Cravens on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin exchange whale ratio has spiked, a sign that the whales may be selling now. Bitcoin Exchange Whale Ratio Has Gone Up In Recent Days An analyst in a CryptoQuant post explained that the whale inflows have been higher than usual recently. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 inflows to exchanges and the total exchange inflows. Generally, the ten most significant transactions going to exchanges are coming from the whales, so this ratio’s value can provide hints about how the inflow activity of these humongous investors currently compares with the entire market. When the value of this metric is high, it means that this cohort is making up a significant part of the total market inflows. As one of the main reasons investors deposit their coins to these platforms is for selling-related purposes, this trend can be a sign that the whales are currently applying a large amount of selling pressure. On the other hand, low values imply the whales are making up for a relatively healthy portion of the total inflows. Depending on other market factors, such a trend may be neutral or bullish for the cryptocurrency’s price. Related Reading: This Dreaded Candlestick Formation Just Printed: Bitcoin To $18k? Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of years: The value of the metric seems to have hit a high peak in recent days | Source: CryptoQuant The above graph shows that the Bitcoin exchange whale ratio has recently registered a spike. In this latest surge, the metric had neared the 0.70 mark, implying that almost 70% of the total exchange inflows had come from these humongous investors alone. If these whales have made these deposits to sell their coins, then BTC could naturally feel a bearish effect from this inflow activity. So far, however, the price hasn’t seen any significant decline, as it continues to be within the range it has been endlessly consolidating for the past few weeks. Related Reading: Renowned Finance Author Says Bitcoin Price Will Reach $1 Million If This Happens In the chart, the quant has also highlighted the instances during the last couple of years where the Bitcoin exchange whale ratio spiked to similarly high values. It would appear that the BTC price declined shortly after most of these occurrences. In some instances, the bearish effect only occurred with a delay, meaning that even though the recent spike hasn’t led to a significant price drawdown, it could still do so soon. It remains to be seen how the Bitcoin market copes with this potential high selling pressure from the whales this time. BTC Price At the time of writing, Bitcoin is trading around $29,000, down 2% in the last week. Looks like BTC has continued to move sideways recently | Source: BTCUSD on TradingView Featured image from Todd Cravens on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":547557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,461,86040,87375,19064,1119,1144],"class_list":["post-547540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish","tag-bitcoin-exchange-whale-ratio","tag-bitcoin-selling","tag-bitcoin-whales","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nAre Bitcoin Whales Selling? 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/www.uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Are Bitcoin Whales Selling? 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