On-chain data shows Bitcoin whale ratio still has a high value right now, suggesting that more downside could be coming for the crypto soon.
Bitcoin Exchange Whale Ratio Has Stayed At Elevated Values Recently
Као што је истакао аналитичар у ЦриптоКуант-у пост, the BTC exchange whale ratio has remained at high values recently.
"однос размене китова” is defined as the sum of the top 10 Bitcoin transactions to exchanges divided by the total inflows.
In simpler terms, this indicator tells us the relative size of the whale transactions (that is, the ten largest transactions) compared to the total amount of coins moving into exchanges.
When the value of this ratio spikes up, it means whales now account for a high percentage of the total exchange inflows. This can be a sign of dumping from these massive holders, and could prove to be bearish for the price of Bitcoin.
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On the other hand, a low value of the indicator suggests whales make up a healthy part of the total inflows right now. Sustained such trend can be bullish for the crypto’s price.
Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio (SMA 30) over the last few years:
Looks like the value of the indicator has been high recently | Source: ЦриптоКуант
As you can see in the above graph, the Bitcoin exchange whale ratio (SMA 30) is at a high value right now. The indicator’s value had dropped off a bit just before the latest rally that took the coin above $47k, but it wasn’t long until it observed an increase again.
In response to this new wave of dumping from the whales, the price has dropped off below the $45k level once again.
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The ratio looks to be climbing up still, or at least staying at the current high values, which could suggest the price may see more decline soon.
However, it’s also possible the Bitcoin whales may be done with their дампинг for now and the ratio could drop back off to allow the price to recover, but it all remains to be seen.
БТЦ цена
У време писања, Битцоин цена floats around $43.1k, down 5% in the last seven days. Over the past month, the crypto has accumulated 13% in gains.
Графикон испод приказује тренд цене новчића у последњих пет дана.
The price of BTC seems to have been moving sideways since the plunge down to $43k | Source: БТЦУСД на ТрадингВиев
Истакнута слика са сајта Унспласх.цом, графикони са странице ТрадингВиев.цом, ЦриптоКуант.цом
Source: https://www.newsbtc.com/news/bitcoin/correction-soon-bitcoin-whale-ratio-elevated/