On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark.
As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.
exchange whale ratio = sum of top 10 inflow txs (in BTC) ÷ total exchange inflows (in BTC)
Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now.
Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto’s price.
On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin’s value.
As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.
exchange whale ratio = sum of top 10 inflow txs (in BTC) ÷ total exchange inflows (in BTC)
Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now.
Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto’s price.
On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin’s value.