{"id":527299,"date":"2023-04-18T14:00:53","date_gmt":"2023-04-18T14:00:53","guid":{"rendered":"https:\/\/wncen.com\/?p=527299"},"modified":"2024-06-11T07:06:30","modified_gmt":"2024-06-11T07:06:30","slug":"bitcoin-bearish-exchange-whale-ratio-spikes","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bearish-exchange-whale-ratio-spikes\/","title":{"rendered":"Bitcoin Bearish Signal: Exchange Whale Ratio Spikes"},"content":{"rendered":"

On-chain data shows the Bitcoin exchange whale ratio has observed a sharp spike recently, a sign that could be bearish for the asset’s price.<\/p>\n

Bitcoin Exchange Whale Ratio Has Been Elevated Recently<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, whales may be making deposits to sell currently. The “exchange whale ratio<\/a>” is an indicator that measures the ratio between the sum of the top 10 inflows to exchanges and the total exchange inflows.<\/p>\n

The 10 largest transactions to exchanges can be assumed to be coming from the whales<\/a>, so this ratio’s value tells us what percentage of the total transfers towards these platforms is being contributed by the whales.<\/p>\n

When the value of this indicator is high, it means a large percentage of the exchange inflows is coming from these humongous holders currently. Such a trend can have bearish implications for the price as it can be a sign of mass selling from the whales.<\/p>\n

On the other hand, low values of the metric suggest these investors are making up for a healthier portion of the exchange inflows. This kind of trend can either be bullish or neutral for the price, depending on some other factors.<\/p>\n

Related Reading: Bitcoin 30-Day Transaction Count Near Cycle Highs, Bullish Sign?<\/a><\/div>\n

Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has been quite high recently | Source: CryptoQuant<\/a><\/pre>\n
The version of the Bitcoin exchange whale ratio used here is specifically for the spot platforms, as spot exchanges are what investors generally use for selling-related activities.<\/p>\n
As shown in the above graph, the indicator’s value has sharply risen in the last few days and is now around a value of 0.64. This means that 64% of the total exchange inflows are coming from the whales alone currently.<\/p>\n
Related Reading: Is Bitcoin Truly Done With Cycle Lows? Here\u2019s What This Metric Says<\/a><\/div>\n
In the chart, the quant has also highlighted the points where the metric has previously shown such spikes, as well as how the price of the cryptocurrency has reacted to occurrences like these.<\/p>\n
It seems like a lot of these instances proved to be bearish for the price of the cryptocurrency as the asset hit a peak when they took place. This means that the selling pressure from the whales was behind the decline during these occurrences.<\/p>\n
There were other instances, however, that didn’t end up having any noticeable effects on the price. Some of these took place following big moves in the asset’s value, so they may have been caused by exchanges getting in more liquidity into their platforms (since purchases from exchanges will also show up as extremely large inflows in on-chain data).<\/p>\n
This implies that the latest high exchange whale ratio doesn’t necessarily have to be bearish for Bitcoin. However, considering that these spikes in whale inflows have come while the price has been surging<\/a>, it’s possible that these deposits have been made for taking profits at the current high prices. If this is indeed the case, then BTC could face a drawdown in the near term.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $29,900, up 1% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has overall gone down in the past two days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from R\u00e9mi Boudousqui\u00e9 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin exchange whale ratio has observed a sharp spike recently, a sign that could be bearish for the asset’s price. Bitcoin Exchange Whale Ratio Has Been Elevated Recently As pointed out by an analyst in a CryptoQuant post, whales may be making deposits to sell currently. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 inflows to exchanges and the total exchange inflows. The 10 largest transactions to exchanges can be assumed to be coming from the whales, so this ratio’s value tells us what percentage of the total transfers towards these platforms is being contributed by the whales. When the value of this indicator is high, it means a large percentage of the exchange inflows is coming from these humongous holders currently. Such a trend can have bearish implications for the price as it can be a sign of mass selling from the whales. On the other hand, low values of the metric suggest these investors are making up for a healthier portion of the exchange inflows. This kind of trend can either be bullish or neutral for the price, depending on some other factors. Related Reading: Bitcoin 30-Day Transaction Count Near Cycle Highs, Bullish Sign? Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of years: Looks like the value of the metric has been quite high recently | Source: CryptoQuant The version of the Bitcoin exchange whale ratio used here is specifically for the spot platforms, as spot exchanges are what investors generally use for selling-related activities. As shown in the above graph, the indicator’s value has sharply risen in the last few days and is now around a value of 0.64. This means that 64% of the total exchange inflows are coming from the whales alone currently. Related Reading: Is Bitcoin Truly Done With Cycle Lows? Here\u2019s What This Metric Says In the chart, the quant has also highlighted the points where the metric has previously shown such spikes, as well as how the price of the cryptocurrency has reacted to occurrences like these. It seems like a lot of these instances proved to be bearish for the price of the cryptocurrency as the asset hit a peak when they took place. This means that the selling pressure from the whales was behind the decline during these occurrences. There were other instances, however, that didn’t end up having any noticeable effects on the price. Some of these took place following big moves in the asset’s value, so they may have been caused by exchanges getting in more liquidity into their platforms (since purchases from exchanges will also show up as extremely large inflows in on-chain data). This implies that the latest high exchange whale ratio doesn’t necessarily have to be bearish for Bitcoin. However, considering that these spikes in whale inflows have come while the price has been surging, it’s possible that these deposits have been made for taking profits at the current high prices. If this is indeed the case, then BTC could face a drawdown in the near term. BTC Price At the time of writing, Bitcoin is trading around $29,900, up 1% in the last week. BTC has overall gone down in the past two days | Source: BTCUSD on TradingView Featured image from R\u00e9mi Boudousqui\u00e9 on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":527320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85841,86040,19064,1119,1144],"class_list":["post-527299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish-signal","tag-bitcoin-exchange-whale-ratio","tag-bitcoin-whales","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Bearish Signal: Exchange Whale Ratio Spikes<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin exchange whale ratio has observed a sharp spike recently, a sign that could be bearish for the asset's price. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bearish Signal: Exchange Whale Ratio Spikes","url":"http:\/\/wncen.com\/news\/bitcoin-bearish-exchange-whale-ratio-spikes\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bearish-exchange-whale-ratio-spikes\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/remi-boudousquie-b0s5l-7CMYU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/remi-boudousquie-b0s5l-7CMYU-unsplash-scaled.jpg?fit=2560%2C1440"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bearish signal","bitcoin exchange whale ratio","bitcoin whales","btc","btcusd"],"dateCreated":"2023-04-18T14:00:53Z","datePublished":"2023-04-18T14:00:53Z","dateModified":"2024-06-11T07:06:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bearish Signal: Exchange Whale Ratio Spikes\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bearish-exchange-whale-ratio-spikes\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bearish-exchange-whale-ratio-spikes\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/remi-boudousquie-b0s5l-7CMYU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/remi-boudousquie-b0s5l-7CMYU-unsplash-scaled.jpg?fit=2560%2C1440\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bearish signal\",\"bitcoin exchange whale ratio\",\"bitcoin whales\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-04-18T14:00:53Z\",\"datePublished\":\"2023-04-18T14:00:53Z\",\"dateModified\":\"2024-06-11T07:06:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/04\/remi-boudousquie-b0s5l-7CMYU-unsplash-scaled.jpg?fit=2560%2C1440","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/527299"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=527299"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/527299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/527320"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=527299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=527299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=527299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}