{"id":649923,"date":"2024-10-26T16:00:43","date_gmt":"2024-10-26T16:00:43","guid":{"rendered":"https:\/\/www.wncen.com\/?p=649923"},"modified":"2024-10-26T06:14:18","modified_gmt":"2024-10-26T06:14:18","slug":"bitcoin-exchange-whale-ratio-hits-new-high-since-2022-impact-on-price","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-exchange-whale-ratio-hits-new-high-since-2022-impact-on-price\/","title":{"rendered":"Bitcoin Exchange Whale Ratio Hits New High Since 2022 \u2014 Impact On Price?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Based on price action data, the last two weeks in October are the <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-network-fundamentals-turn-bullish-here-are-the-details\/\" target=\"_blank\" rel=\"noopener \">most bullish period<\/a> in the Bitcoin price history. However, why that hasn\u2019t been the story for the premier cryptocurrency over the past two weeks seems to be the question on every investor\u2019s mind.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">The price of BTC has failed to capitalize on its recent bullish momentum, falling to as low as $65,000 at some point in the past week. Interestingly, the latest on-chain observation suggests that this period of sluggishness might not be over yet for the market leader.<\/span><\/p>\n<h2><b>Is The Rising Exchange Whale Ratio Bullish Or Bearish?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">In a recent Quicktake post on the CryptoQuant platform, an on-chain analyst <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/671a57ea127ec65219b747df-Bitcoin-Exchange-Whale-Ratio-shows-the-highest-value-since-Nov-2022\" target=\"_blank\" rel=\"noopener nofollow\">pointed out<\/a> that the Bitcoin \u201cExchange Whale Ratio\u201d has seen a notable surge in recent weeks. The \u201cExchange Whale Ratio\u201d metric measures the ratio between the sum of the top 10 largest transfers into centralized exchanges and the total exchange inflow.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-macd-turns-bullish-since-2023-predictions-of-cycle-top-and-next-bear-market-bottom\/\" target=\"_blank\" rel=\"noopener \">Bitcoin MACD Turns Bullish Since 2023: Predictions Of Cycle Top And Next Bear Market Bottom<\/a><\/div>\n<p><span style=\"font-weight: 400\">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. The <\/span><span style=\"font-weight: 400\">Exchange Whale Ratio basically assesses the level of activity of this cohort of investors compared to the rest of the market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A high <a href=\"https:\/\/bitcoinist.com\/bitcoin-exchange-whale-ratio-rising-could-alarming\/#:~:text=This%20would%20suggest%20that%20the,%2Dtime%20high%20(ATH).\" target=\"_blank\" rel=\"noopener nofollow\">Exchange Whale Ratio<\/a> indicates that the <\/span><span style=\"font-weight: 400\">top 10 largest exchange inflows dwarves the incoming transfers from the rest of the market. On the other hand, when the value of this metric is low, it suggests that the whales only make up a relatively healthy part of funds flowing into centralized exchanges.<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/331846\/quicktake\/wuJs5_e3bc392d5a183972a7f09e0294c2b69e519a6e0b0d1b9cc1b92952fd8ced2b72.png?resize=1280%2C720&#038;ssl=1\" alt=\"Bitcoin\" width=\"1280\" height=\"720\"><figcaption class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">According to data from <a href=\"https:\/\/www.wncen.com\/news\/bitcoin\/can-bitcoin-price-reach-a-new-all-time-high-golden-cross\/\" target=\"_blank\" rel=\"noopener \">CryptoQuant<\/a>, the seven-day moving average of Bitcoin\u2019s <\/span><span style=\"font-weight: 400\">Exchange Whale Ratio recently reached its highest value since November 2022. <\/span><\/p>\n<p><span style=\"font-weight: 400\">T<\/span><span style=\"font-weight: 400\">he 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.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Inflows into centralized exchanges typically have a bearish impact on the Bitcoin price, as selling is one of the services offered by these platforms. Moreover, whales moving their funds to trading platforms can set off a sell-off cascade, as other investors often watch their moves due to their market influence.<\/span><\/p>\n<h2><b>Bitcoin Price At A Glance<\/b><\/h2>\n<p><span style=\"font-weight: 400\">As of this writing, the price of Bitcoin stands around $66,700, reflecting an almost 2% decline in the past 24 hours. This single-day performance underscores how <a href=\"https:\/\/www.wncen.com\/bitcoin-news\/bitcoin-current-decline-could-be-temporary-key-signs-of-a-rally-revealed\/\" target=\"_blank\" rel=\"noopener \">sluggish the premier cryptocurrency<\/a> has been in recent days. According to CoinGecko data, the price of BTC is down by over 3% in the past week.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-price-to-see-70-100000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?<\/a><\/div>\n<div>\n<figure style=\"width: 2174px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/MEm6YO2i\/\" alt=\"Bitcoin\" width=\"2174\" height=\"1432\"><figcaption class=\"wp-caption-text\">The price of BTC on the daily timeframe | Source: BTCUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/MEm6YO2i\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<\/div>\n<div><em>Featured image created by Dall.E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Based on price action data, the last two weeks in October are the most bullish period in the Bitcoin price history. However, why that hasn\u2019t been the story for the premier cryptocurrency over the past two weeks seems to be the question on every investor\u2019s mind. The price of BTC has failed to capitalize on its recent bullish momentum, falling to as low as $65,000 at some point in the past week. Interestingly, the latest on-chain observation suggests that this period of sluggishness might not be over yet for the market leader. Is The Rising Exchange Whale Ratio Bullish Or Bearish? In a recent Quicktake post on the CryptoQuant platform, an on-chain analyst pointed out that the Bitcoin \u201cExchange Whale Ratio\u201d has seen a notable surge in recent weeks. The \u201cExchange Whale Ratio\u201d metric measures the ratio between the sum of the top 10 largest transfers into centralized exchanges and the total exchange inflow. 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. The Exchange Whale Ratio basically assesses the level of activity of this cohort of investors compared to the rest of the market. A high Exchange Whale Ratio indicates that the top 10 largest exchange inflows dwarves the incoming transfers from the rest of the market. On the other hand, when the value of this metric is low, it suggests that the whales only make up a relatively healthy part of funds flowing into centralized exchanges. According to data from CryptoQuant, the seven-day moving average of Bitcoin\u2019s Exchange Whale Ratio recently reached its highest value since November 2022. 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. Inflows into centralized exchanges typically have a bearish impact on the Bitcoin price, as selling is one of the services offered by these platforms. Moreover, whales moving their funds to trading platforms can set off a sell-off cascade, as other investors often watch their moves due to their market influence. Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands around $66,700, reflecting an almost 2% decline in the past 24 hours. This single-day performance underscores how sluggish the premier cryptocurrency has been in recent days. According to CoinGecko data, the price of BTC is down by over 3% in the past week. Related Reading: Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go? Featured image created by Dall.E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":641963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,86040,679,1119,78790],"class_list":["post-649923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-exchange-whale-ratio","tag-bitcoin-price","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Exchange Whale Ratio Hits New High Since 2022 \u2014 Impact On Price?<\/title>\n<meta name=\"description\" content=\"Based on price action data, the last two weeks in October are the most bullish period in the Bitcoin price history. 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