On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark.<\/p>\n
Bitcoin Exchange Whale Ratio (EMA 7) Is Currently Below 0.50<\/p>\n
As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.<\/p>\n
The \u201cexchange whale ratio\u201d is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.<\/p>\n
exchange whale ratio = sum of top 10 inflow txs (in BTC) \u00f7 total exchange inflows (in BTC)<\/p>\n
Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now.<\/p>\n
Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto\u2019s price.<\/p>\n
On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin\u2019s value.<\/p>\n\n
Now, here is a chart that shows the trend in the 7-day exponential moving-average Bitcoin exchange whale ratio over the past month:<\/p>\n\n
The EMA-7 value of the metric looks to have been down in recent days | Source: CryptoQuant<\/p>\n
As you can see in the above graph, the Bitcoin exchange whale ratio (EMA-7) has been below a value of 0.50 for seven out of the last eight days.<\/p>\n
The 0.50 mark is the dumping threshold for the EMA-7 version of the metric and as the indicator has been below this value recently, the selling pressure from whales has been low.<\/p>\n\n
While the ratio has gone down, BTC\u2019s price has enjoyed some upwards momentum as the coin surged up above the $24k mark earlier today.<\/p>\n
BTC Price<\/p>\n
At the time of writing, Bitcoin\u2019s price floats around $23.5k, down 1% in the last seven days. Over the past month, the crypto has gained 15% 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 observed some upwards movement during the last couple of days | Source: BTCUSD on TradingView<\/p>\n
Around ten days ago Bitcoin had recovered above $23k, but only a few days later the crypto\u2019s price again started to go downhill. However, in the last couple of days, the coin enjoyed some sharp upwards momentum as it retook $23k.<\/p>\n
Earlier today, BTC even broke above $24k, though it wasn\u2019t long before the crypto saw a slump and came down to the current level.<\/p>\n
Featured image from Karl-Heinz M\u00fcller on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark.<\/p>\n
Bitcoin Exchange Whale Ratio (EMA 7) Is Currently Below 0.50<\/p>\n
As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.<\/p>\n
The \u201cexchange whale ratio\u201d is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.<\/p>\n
exchange whale ratio = sum of top 10 inflow txs (in BTC) \u00f7 total exchange inflows (in BTC)<\/p>\n
Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now.<\/p>\n
Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto\u2019s price.<\/p>\n
On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin\u2019s value.<\/p>\n
Now, here is a chart that shows the trend in the 7-day exponential moving-average Bitcoin exchange whale ratio over the past month:<\/p>\n
The EMA-7 value of the metric looks to have been down in recent days | Source: CryptoQuant<\/p>\n
As you can see in the above graph, the Bitcoin exchange whale ratio (EMA-7) has been below a value of 0.50 for seven out of the last eight days.<\/p>\n
The 0.50 mark is the dumping threshold for the EMA-7 version of the metric and as the indicator has been below this value recently, the selling pressure from whales has been low.<\/p>\n
While the ratio has gone down, BTC\u2019s price has enjoyed some upwards momentum as the coin surged up above the $24k mark earlier today.<\/p>\n
BTC Price<\/p>\n
At the time of writing, Bitcoin\u2019s price floats around $23.5k, down 1% in the last seven days. Over the past month, the crypto has gained 15% 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 observed some upwards movement during the last couple of days | Source: BTCUSD on TradingView<\/p>\n
Around ten days ago Bitcoin had recovered above $23k, but only a few days later the crypto\u2019s price again started to go downhill. However, in the last couple of days, the coin enjoyed some sharp upwards momentum as it retook $23k.<\/p>\n
Earlier today, BTC even broke above $24k, though it wasn\u2019t long before the crypto saw a slump and came down to the current level.<\/p>\n
Featured image from Karl-Heinz M\u00fcller 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-4477","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\/4477","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=4477"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4477\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}