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NewsBTC 2021-09-28 19:00:58

Bitcoin Bearish Signal: On-Chain Data Shows Whales Have Started Selling

On-chain data shows whale ratio has exceeded the 0.50 mark, historically a sign that whales are dumping in the short term. Bitcoin Whales Have Started Selling Their Coins As pointed out by a CryptoQuant post, the Bitcoin whale ratio has started going up above the 0.50 level. This signal has usually meant a bearish outlook for the crypto in the short term. The BTC all exchanges whale ratio is an indicator that gives an estimation of how many whales are sending their coins to exchanges. The metric does so by taking the sum of the top 10 transactions to each exchange and dividing it with the total inflow on all exchanges. Exchange Whale Ratio= Sum of Top 10 Exchange Inflow TXs (BTC) ÷ Total Exchange Inflows in BTC​ The “inflow” is another indicator, it gives the total amount of Bitcoin entering into exchange wallets from personal ones. When the whale ratio rises, it means the top 10 transactions to exchanges are taking up a larger part of the total BTC going into these exchanges. This means more whales have started sending their coins to exchanges, either for withdrawing to fiat or stablecoins, or for purchasing altcoins. On the other hand, when the value moves down, it means the general small transactions make up the majority of the inflows to exchanges, and that Bitcoin whales aren’t moving their coins around at this time. Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided Here is a chart ...

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