On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump.
Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now
As pointed out by an analyst in a CryptoQuant post, whales may be ramping up dumping, a sign that could be bearish for the price of BTC.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflows.
Since the 10 biggest transactions to exchanges usually belong to the whales, this metric can tell us about the relative size of whale inflows to the rest of the market.
When the value of this metric is high (that is, above 85%), it means whales currently make up a very large part of the overall exchange inflows.
Especially high values can suggest that whales are mass dumping at the moment, something that could prove to be bearish for the ..
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