Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated
The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales.
Bitcoin Exchange Whale Ratio Continues To Be At High Values
As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the moment.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten transactions to exchanges and the total Bitcoin exchange inflows.
In simpler terms, this metric tells us how the whale transactions (that is, the ten biggest transfers) compare with the total amount going into exchanges.
If the value of this ratio is high, it means whales are making up for a large part of the inflows right now. Such a trend can be a sign of dumping from these whales, and thus can be bearish for the crypto’s price.