On-chain data shows the Bitcoin exchange whale ratio has remained at a high value recently, a sign that could be bearish for the crypto’s price. Bitcoin Exchange Whale Ratio On Verge Of Entering “Very High Risk” Zone As explained by an analyst in a CryptoQuant post, the 72-hour MA whale ratio is near 0.90, the very high risk zone. The “exchange whale ratio” is an indicator that’s defined as the sum of top ten inflows to exchanges divided by the total inflows. In simpler terms, this metric tells us what part of the total inflows are contributed by the ten largest transactions, which typically belong to the whales. When the value of this indicator is above 0.85, it means whales occupy a very large percentage of exchange inflows right now. As investors usually transfer their Bitcoin to exchanges for selling purposes, such a trend can be a sign that whales are dumping at the moment. The indicator’s value usually remains above this threshold during BTC bear markets, or fake bull for mass dumping. Related Reading | Bitcoin Trading Volume Plummets Down From Recent Top On the other hand, values below the 0.85 mark usually signify that whale inflows are currently in a healthier balance with the rest of the market. The ratio’s value usually remains in this region during bull runs. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio (72-hour MA) over the past ...
