On-chain data shows the top 10 Bitcoin whale inflows are forming a historic bear signal right now, something that could spell trouble for the new rally. Bitcoin Top 10 Exchange Inflows (Whales) Form A Peak Recently As pointed out by an analyst in a CryptoQuant post, the BTC top ten exchange inflows have showed a bearish formation recently. The “all exchanges inflow” is an indicator that measures the total amount of Bitcoin entering wallets of all exchanges during a specific period. Investors usually deposit their BTC to exchanges for selling purposes. Therefore, any spikes in the metric can be bearish for the price of the crypto. A modification of this indicator is the “top 10 exchange inflow,” which measures the sum of the ten largest transactions going to centralized exchanges. As these transfers usually belong to whales, high values of the metric may be a sign of dumping from these massive Bitcoin holders. On the other hand, low top ten inflow values may suggest that whales are selling a normal amount of coins at the moment. Related Reading | Ethereum Will Continue To Outperform Bitcoin, Here’s The Indicator That Says So Now, here is a chart that shows the trend in the Bitcoin top ten inflows over the past few years: Looks like the value of the indicator is forming a peak | Source: CryptoQuant In the above chart, the quant has marked the important regions of trend for the top ten Bitc...
