Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value
26 Mayo 2022 - 02:00PM
NEWSBTC
On-chain data shows the Bitcoin exchange whale ratio has remained
at a high value recently, a sign that could be bearish for the
crypto’s price. Bitcoin Exchange Whale Ratio On Verge Of Entering
“Very High Risk” Zone As explained by an analyst in a CryptoQuant
post, the 72-hour MA whale ratio is near 0.90, the very high risk
zone. The “exchange whale ratio” is an indicator that’s defined as
the sum of top ten inflows to exchanges divided by the total
inflows. In simpler terms, this metric tells us what part of the
total inflows are contributed by the ten largest transactions,
which typically belong to the whales. When the value of this
indicator is above 0.85, it means whales occupy a very large
percentage of exchange inflows right now. As investors usually
transfer their Bitcoin to exchanges for selling purposes, such a
trend can be a sign that whales are dumping at the moment. The
indicator’s value usually remains above this threshold during BTC
bear markets, or fake bull for mass dumping. Related Reading
| Bitcoin Trading Volume Plummets Down From Recent Top On the
other hand, values below the 0.85 mark usually signify that whale
inflows are currently in a healthier balance with the rest of the
market. The ratio’s value usually remains in this region during
bull runs. Now, here is a chart that shows the trend in the Bitcoin
exchange whale ratio (72-hour MA) over the past couple of months:
It looks like the indicator has been at a high value recently |
Source: CryptoQuant As you can see in the above graph, the Bitcoin
exchange whale ratio has a value of about 0.89 right now, above the
0.85 threshold. According to the quant in the post, values above
0.90 may be considered the “very high risk” zone. So, the current
value of the indicator is very close to that. Related Reading
| Investors May Expect Downside For Bitcoin And Ethereum
Market For The Next 3 Months In this month so far, the ratio’s
value has almost always remained above the 0.85 line, with a couple
of spikes above the 0.90 level. The analyst believes whales are
active right now due to the FED May Meeting Minutes, and if the
ratio remains high in the near future, then it could spell trouble
for Bitcoin. BTC Price At the time of writing, Bitcoin’s price
floats around $28.8k, down 2% in the last seven days. Over the past
thirty days, the crypto has lost 30% in value. The below chart
shows the trend in the price of the coin over the last five days.
Seems like the price of the coin has plunged down over the last
couple of days | Source: BTCUSD on TradingView Featured image from
Unsplash.com, charts from TradingView.com, CryptoQuant.com
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