On-chain data shows the Bitcoin exchange whale ratio spiked up just before the crypto’s plunge below the $19k level. Bitcoin Exchange Whale Ratio Breached 90% Right Before The Price Dip As pointed out by an analyst in a CryptoQuant post, the whale activity on exchanges has been raised recently. The “exchange whale ratio” is an indicator that measures the ratio between the top ten inflow transactions to exchanges and the total exchange inflows. The ten biggest transfers are assumed to be from the whales, so that the metric tells us what part of the total number of coins moving into exchanges is coming from these humungous holders. When the value of this indicator is high, it means a large part of the inflows is coming from whales right now. Such a trend can be a sign of dumping from this cohort and can therefore be bearish for the price. On the other hand, low values of the ratio can suggest whales are making up a healthy part of the transactions to exchanges at the moment. This kind of trend can either be bullish or neutral for the crypto’s value. Related Reading: Core Scientific Confirms selling 1,100 Bitcoin In August, What Was Its Impact? Historically, the metric has usually had values above 0.85 during bear markets or fake bulls, while it has generally remained below this threshold during bull runs. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of...
