{"id":539628,"date":"2023-06-26T11:30:06","date_gmt":"2023-06-26T11:30:06","guid":{"rendered":"https:\/\/wncen.com\/?p=539628"},"modified":"2024-06-11T08:05:39","modified_gmt":"2024-06-11T08:05:39","slug":"bitcoin-bullish-signal-exchange-whale-ratio-plunges","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bullish-signal-exchange-whale-ratio-plunges\/","title":{"rendered":"Bitcoin Bullish Signal: Exchange Whale Ratio Plunges"},"content":{"rendered":"

On-chain data shows that the Bitcoin exchange whale ratio has taken a plunge recently. Here’s why this may be bullish for the asset’s price.<\/p>\n

Bitcoin Exchange Whale Ratio Has Registered A Sharp Decline Recently<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the selling pressure in the market may be diminishing right now. The “exchange whale ratio<\/a>” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflow.<\/p>\n

Generally, the 10 largest transactions to exchanges are coming from whale entities, so this metric can tell us how the inflows of these humongous holders compare with that of the entire market.<\/p>\n

When the value of this ratio is high, it means that the whales are making up a large part of the total inflows currently. As one of the main reasons why investors deposit to exchanges is for selling-related purposes, this kind of trend can be a sign that this cohort may be taking part in mass dumping right now.<\/p>\n

On the other hand, low values of the indicator imply the whales are contributing a relatively healthy portion toward the inflows at the moment. Since these large investors aren’t selling significantly more than the rest of the market during such periods, the price of the cryptocurrency can feel a bullish effect.<\/p>\n

Related Reading: Momentum: Why The Bitcoin Train Is Ready To Leave The Station<\/a><\/div>\n

Now, here is a chart that shows the trend in the 72-hour simple moving average (SMA) Bitcoin exchange whale ratio over the past several months:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the 72-hour SMA value of the metric has taken a deep hit in recent days | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the 72-hour SMA Bitcoin exchange whale ratio has plummeted recently, implying that the whale deposits have dropped relative to the rest of the market.<\/p>\n
Before this plunge, the indicator had been in an overall uptrend since March, suggesting that these humongous investors were possibly slowly ramping up their selling.<\/p>\n
Related Reading: Bitcoin Resurgence: Three Reasons Why BTC Has Eyes Set on $50,000 Next<\/a><\/div>\n
During the recent period when the asset’s price was struggling, the metric had surged to around 0.88, meaning that around 88% of the total exchange inflows were coming from this cohort alone.<\/p>\n
Following the latest rapid decline, however, the 72-hour SMA Bitcoin exchange whale ratio has dropped to around 0.80. Interestingly, this drawdown in the indicator has come while the coin has seen a sharp rally<\/a> that has now taken the price above the $30,000 level.<\/p>\n
Usually, whales may ramp up their selling a little during such periods, as at least some of these large investors might be enticed by the profit-taking opportunity. Since that doesn’t seem to have occurred yet, it may be a sign that these holders believe that there is more to come for this rally.<\/p>\n
From the chart, it’s visible that the indicator also saw a sharp plunge following the FTX collapse<\/a>, which allowed the cryptocurrency to bottom out and eventually build up toward the rally.<\/p>\n
The current relatively low selling pressure from the whales may potentially allow the price of the cryptocurrency to grow in a similar fashion as well (which would only be, of course, given that the metric continues to be at these low values in the near future).<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $30,400, up 15% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has stagnated since the sharp climb | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that the Bitcoin exchange whale ratio has taken a plunge recently. Here’s why this may be bullish for the asset’s price. Bitcoin Exchange Whale Ratio Has Registered A Sharp Decline Recently As pointed out by an analyst in a CryptoQuant post, the selling pressure in the market may be diminishing right now. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflow. Generally, the 10 largest transactions to exchanges are coming from whale entities, so this metric can tell us how the inflows of these humongous holders compare with that of the entire market. When the value of this ratio is high, it means that the whales are making up a large part of the total inflows currently. As one of the main reasons why investors deposit to exchanges is for selling-related purposes, this kind of trend can be a sign that this cohort may be taking part in mass dumping right now. On the other hand, low values of the indicator imply the whales are contributing a relatively healthy portion toward the inflows at the moment. Since these large investors aren’t selling significantly more than the rest of the market during such periods, the price of the cryptocurrency can feel a bullish effect. Related Reading: Momentum: Why The Bitcoin Train Is Ready To Leave The Station Now, here is a chart that shows the trend in the 72-hour simple moving average (SMA) Bitcoin exchange whale ratio over the past several months: Looks like the 72-hour SMA value of the metric has taken a deep hit in recent days | Source: CryptoQuant As displayed in the above graph, the 72-hour SMA Bitcoin exchange whale ratio has plummeted recently, implying that the whale deposits have dropped relative to the rest of the market. Before this plunge, the indicator had been in an overall uptrend since March, suggesting that these humongous investors were possibly slowly ramping up their selling. Related Reading: Bitcoin Resurgence: Three Reasons Why BTC Has Eyes Set on $50,000 Next During the recent period when the asset’s price was struggling, the metric had surged to around 0.88, meaning that around 88% of the total exchange inflows were coming from this cohort alone. Following the latest rapid decline, however, the 72-hour SMA Bitcoin exchange whale ratio has dropped to around 0.80. Interestingly, this drawdown in the indicator has come while the coin has seen a sharp rally that has now taken the price above the $30,000 level. Usually, whales may ramp up their selling a little during such periods, as at least some of these large investors might be enticed by the profit-taking opportunity. Since that doesn’t seem to have occurred yet, it may be a sign that these holders believe that there is more to come for this rally. From the chart, it’s visible that the indicator also saw a sharp plunge following the FTX collapse, which allowed the cryptocurrency to bottom out and eventually build up toward the rally. The current relatively low selling pressure from the whales may potentially allow the price of the cryptocurrency to grow in a similar fashion as well (which would only be, of course, given that the metric continues to be at these low values in the near future). BTC Price At the time of writing, Bitcoin is trading around $30,400, up 15% in the last week. BTC has stagnated since the sharp climb | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":539632,"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":[428,85693,86040,19064,1119,1144],"class_list":["post-539628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish-signal","tag-bitcoin-exchange-whale-ratio","tag-bitcoin-whales","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Bullish Signal: Exchange Whale Ratio Plunges<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin exchange whale ratio has taken a plunge recently. 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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 Bullish Signal: Exchange Whale Ratio Plunges","url":"http:\/\/wncen.com\/news\/bitcoin-bullish-signal-exchange-whale-ratio-plunges\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bullish-signal-exchange-whale-ratio-plunges\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-1288562987.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-1288562987.jpg?fit=2359%2C1270"},"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 bullish signal","bitcoin exchange whale ratio","bitcoin whales","btc","btcusd"],"dateCreated":"2023-06-26T11:30:06Z","datePublished":"2023-06-26T11:30:06Z","dateModified":"2024-06-11T08:05:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bullish Signal: Exchange Whale Ratio Plunges\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bullish-signal-exchange-whale-ratio-plunges\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bullish-signal-exchange-whale-ratio-plunges\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1288562987.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1288562987.jpg?fit=2359%2C1270\"},\"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 bullish signal\",\"bitcoin exchange whale ratio\",\"bitcoin whales\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-06-26T11:30:06Z\",\"datePublished\":\"2023-06-26T11:30:06Z\",\"dateModified\":\"2024-06-11T08:05:39Z\"}<\/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\/06\/iStock-1288562987.jpg?fit=2359%2C1270","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539628"}],"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=539628"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/539632"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=539628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=539628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=539628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}