Bitcoin Exchange Whale Ratio Hits New High Since 2022 — Impact On Price?

Quick Summary:

Related Reading: Bitcoin MACD Turns Bullish Since 2023: Predictions Of Cycle Top And Next Bear Market Bottom For clarity, it is assumed that the 10 largest inflows into exchanges are executed by whales, which are entities that wield significant influence on the market due to their substantial crypto holdings.

In a recent Quicktake post on the CryptoQuant platform, an on-chain analyst pointed out that the Bitcoin "Exchange Whale Ratio” has seen a notable surge in recent weeks.

The Quicktake analyst pointed out that the spike in this metric could be bearish for the value of the flagship cryptocurrency, as it implies that whales might be putting a significant amount of selling pressure on the market.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOman

Topics: Btc Bitcoin BTCUSDT Bitcoin price Bitcoin Exchange Whale Ratio Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 16:00:43 (5 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 430 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23252309

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