{"id":467300,"date":"2021-07-12T19:00:23","date_gmt":"2021-07-12T19:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=467300"},"modified":"2024-06-11T13:56:59","modified_gmt":"2024-06-11T13:56:59","slug":"bitcoin-whale-soars-crash-coming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whale-soars-crash-coming\/","title":{"rendered":"Bitcoin Whale Ratio Soars, Could A Crash Be Coming?"},"content":{"rendered":"
The Bitcoin all exchanges whale ratio has soared, which might be an indicator that a crash could be coming soon, based on past patterns.<\/p>\n
As pointed out by a CryptoQuant post<\/a>, the Bitcoin All Exchanges Whale Ratio had a sharp spike on Sunday.<\/p>\n The BTC All Exchanges Whale Ratio is defined as the total amount of coins in top 10 transactions of all exchanges (that is, the transactions with the most BTC sent) divided by the total amount of coins flowing into the exchanges.<\/p>\n Bitcoin All Exchanges Whale Ratio= Sum of Top 10 Exchange Inflow TXs (BTC)\u200b \u00f7 Total Exchange Inflows in BTC<\/p><\/blockquote>\n The indicator shows the relative size of the top transactions to the total inflows on all exchanges. Based on which, it becomes possible to tell the ratio of whales<\/a> that are using the exchanges.<\/p>\n Now, here is how the Bitcoin all exchanges whale ratio chart looks like for the year 2021:<\/p>\n <\/p>\n As is clear from the chart, the value of the Bitcoin all exchanges whale ratio seems to have sharply increased recently.<\/p>\n A notable feature of the graph is that the value of the indicator right now, about 0.6, has only been surpassed by three other occasions in the year.<\/p>\n Related Reading | <\/strong><\/em>Analyst: Bitcoin Approaches \u201cCritical Intersection Of Macro Support\u201d<\/strong><\/em><\/a><\/p>\n And shortly after those periods where the ratio spiked, a decline in the price of Bitcoin has always been observed.<\/p>\n The reason behind the drop is that whenever the indicator increases in value, it means whales are sending their BTC to exchanges for selling\/exchanging purposes. Whales dumping their coins has always driven the price down.<\/p>\n As of the time of publishing, BTC’s price<\/a> is going around 33.5k, down almost 0.8% in the last 7 days. Compared to one month ago, its trading value is about 6% lower.<\/p>\n Here is a chart noting the trend in Bitcoin’s price over the last 6 months:<\/p>\n <\/p>\n The price of Bitcoin continues to be range bound as the crypto fails to escape the $35k resistance line. The volatility<\/a> has dropped to the lowest of the year as the coin’s price stagnates.<\/p>\n Based on the behavior of the indicator this past year, the current spike in the BTC All Exchanges Whale Ratio might suggest that a drop in the price could be coming soon.<\/p>\nThe BTC whale ratio seems to have risen | Source: CryptoQuant<\/a><\/pre>\n
Bitcoin Price<\/h2>\n
BTC's price seems to be on a downtrend | Source: BTCUSD on TradingView<\/a><\/pre>\n