On-chain data shows the Bitcoin whales have potentially ramped up their selling recently, something that could lead to a drawdown for the asset.
Bitcoin Exchange Whale Ratio Has Spiked Recently
As explained by an analyst in a CryptoQuant Quicktake post, the price of Bitcoin could correct towards the $31,000 to $32,000 range from the current whale selling pressure.
The relevant indicator here is the “exchange whale ratio,” which measures the ratio between the sum of the top 10 transfers to exchanges and the total exchange inflow.
The 10 largest transactions going towards these platforms generally come from the whales, so this ratio can tell us about how the inflow activity of the whales currently compares against the rest of the market.
These humongous investors may transfer their coins to these central entities for a variety of purposes, one of which could be for selling. Thus, whenever the whales occupy a large part of the total exchange inflows, it’s a potential sign that the s
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-whales-ramp-selling-btc-decline-32000/
