The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales.<\/p>\n
Bitcoin Exchange Whale Ratio Continues To Be At High Values<\/p>\n
As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the moment.<\/p>\n
The \u201cexchange whale ratio\u201d is an indicator that measures the ratio between the sum of the top ten transactions to exchanges and the total Bitcoin exchange inflows.<\/p>\n
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.<\/p>\n
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\u2019s price.<\/p>\n
Related Reading |\u00a0Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K<\/p>\n
On the other hand, low values of the indicator imply whales are making up a healthy part of the inflows currently. This trend can prove to be either neutral or bullish for the value of BTC.<\/p>\n
Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last few months:<\/p>\n\n
The 72-hour MA value of the metric seems to have been high recently | Source: CryptoQuant<\/p>\n
As you can see in the above graph, the Bitcoin exchange whale ratio has stayed at pretty high values in recent days.<\/p>\n
Generally, the indicator\u2019s value remains less than 0.85 during bull markets, while it stays at higher values than that in bear market periods.<\/p>\n
Related Reading |\u00a0Bitcoin Rejected At $21K, Why A Retest Of The Lows Could Be Positive<\/p>\n
The current value of the ratio is above 0.90, which means more than 90% of the exchange inflow is from the ten largest transactions right now. This can be a hint that whales are dumping at the moment.<\/p>\n
Bitcoin attempted a recovery rally over the last few days after hitting the low below $18k, but the run has now slowed down as the value of the coin now looks to be moving sideways.<\/p>\n
This halt in the move may possibly be because of selling from whales that the exchange whale ratio is signaling right now.<\/p>\n
BTC Price<\/p>\n
At the time of writing, Bitcoin\u2019s price floats around $20.7k, down 2% in the last seven days. Over the past month, the crypto has lost 31% in value.<\/p>\n
The below chart shows the trend in the price of the coin over the last five days.<\/p>\n\n
Looks like the value of the crypto has been consolidating sideways over the past few days | Source: BTCUSD on TradingView
\nFeatured image from F\u00e1bio Hanashiro on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales.<\/p>\n
Bitcoin Exchange Whale Ratio Continues To Be At High Values<\/p>\n
As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the moment.<\/p>\n
The \u201cexchange whale ratio\u201d is an indicator that measures the ratio between the sum of the top ten transactions to exchanges and the total Bitcoin exchange inflows.<\/p>\n
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.<\/p>\n
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\u2019s price.<\/p>\n
Related Reading |\u00a0Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K<\/p>\n
On the other hand, low values of the indicator imply whales are making up a healthy part of the inflows currently. This trend can prove to be either neutral or bullish for the value of BTC.<\/p>\n
Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last few months:<\/p>\n
The 72-hour MA value of the metric seems to have been high recently | Source: CryptoQuant<\/p>\n
As you can see in the above graph, the Bitcoin exchange whale ratio has stayed at pretty high values in recent days.<\/p>\n
Generally, the indicator\u2019s value remains less than 0.85 during bull markets, while it stays at higher values than that in bear market periods.<\/p>\n
Related Reading |\u00a0Bitcoin Rejected At $21K, Why A Retest Of The Lows Could Be Positive<\/p>\n
The current value of the ratio is above 0.90, which means more than 90% of the exchange inflow is from the ten largest transactions right now. This can be a hint that whales are dumping at the moment.<\/p>\n
Bitcoin attempted a recovery rally over the last few days after hitting the low below $18k, but the run has now slowed down as the value of the coin now looks to be moving sideways.<\/p>\n
This halt in the move may possibly be because of selling from whales that the exchange whale ratio is signaling right now.<\/p>\n
BTC Price<\/p>\n
At the time of writing, Bitcoin\u2019s price floats around $20.7k, down 2% in the last seven days. Over the past month, the crypto has lost 31% in value.<\/p>\n
The below chart shows the trend in the price of the coin over the last five days.<\/p>\n
Looks like the value of the crypto has been consolidating sideways over the past few days | Source: BTCUSD on TradingView
\nFeatured image from F\u00e1bio Hanashiro on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-1912","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=1912"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1912\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1912"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}