On-chain data suggests the Bitcoin whales have been showing different behavior regarding exchange inflows from the last cycle. Here’s why this may be so.
Bitcoin Whales Are Showing Different Behavior In Exchange Inflows This Time
As an analyst explained in a CryptoQuant Quicktake post, the BTC whales’ movements have been different this time compared to the previous cycle.
The indicator of interest here is the “exchange inflow,” which tracks the total amount of Bitcoin being transferred to wallets attached to all centralized exchanges. In the context of the current discussion, derivative platforms are specifically of interest.
When this metric’s value is high, it means that investors are depositing large amounts on these exchanges. Such a trend usually suggests a high demand for the services these derivative exchanges provide.
Generally, extraordinary spikes in the indicator are associated with whale movements, given that only these humongous holders can cause suc
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