Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated

The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales. Bitcoin Exchange Whale Ratio Continues To Be At High Values As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the moment. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten transactions to exchanges and the total Bitcoin exchange inflows. 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. 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’s price. Related Reading | Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K 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. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last few months: The 72-hour MA value of the metric seems to have been high recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange whale ratio has stayed at pretty high values in recent days. Gener...