ביטקאָין בעריש סיגנאַל: וויילז ראַמפּ אַרויף דאַמפּינג

On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump.

Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now

ווי אנגעוויזן דורך אַן אַנאַליסט אין אַ CryptoQuant פּאָסטן, whales may be ramping up dumping, a sign that could be bearish for the price of BTC.

די "וועקסל וואַלפיש פאַרהעלטעניש"איז אַ גראדן אַז מעסטן די פאַרהעלטעניש צווישן די סאַכאַקל פון די שפּיץ צען ביטקאָין טראַנזאַקשאַנז צו יקסטשיינדזשיז און די גאַנץ וועקסל ינפלאָוז.

Since the 10 biggest transactions to exchanges usually belong to the whales, this metric can tell us about the relative size of whale inflows to the rest of the market.

When the value of this metric is high (that is, above 85%), it means whales currently make up a very large part of the overall exchange inflows.

Especially high values can suggest that whales are mass dumping at the moment, something that could prove to be bearish for the price of Bitcoin.

On the other hand, the indicator having values lesser than 85% can imply whale selling in the market is at a healthy level right now. During bull runs, the metric usually remains in this range.

פֿאַרבונדענע רידינג | ביטקאָין מאַרקעט פּלאַנדזשיז אין עקסטרעם מורא, ווי סקערי טוט עס באַקומען?

Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio (72-hour MA) over the course of 2022 so far:

The indicator's value seems to have surged up recently | Source: קריפּטאָקוואַנט

As you can see in the above graph, the Bitcoin exchange whale ratio has shot up and is now approaching the 90% mark.

This suggests that whales may be starting to ramp up their dumping right now. Earlier in the month, the ratio exceeded the 90% point and the coin’s price plummeted down to below $26k.

Related Reading | ניו דאַטן ווייַזן אַז טשיינאַ נאָך קאָנטראָלס 21% פון די גלאבאלע ביטקאָין מיינינג האַשראַטע

If the indicator keeps rising and a similar trend follows this time as well, then more downside could be in store for the cryptocurrency.

בטק פּרייס

אין דער צייט פון שרייבן, די פּרייַז פון ביטקאָין פלאַץ אַרום $ 29.7 ק, אַראָפּ 6% אין די לעצטע זיבן טעג. אין די לעצטע חודש, די קריפּטאָ האט פאַרפאַלן 25% אין ווערט.

די אונטן טשאַרט ווייזט די גאַנג אין די פּרייַז פון די מאַטבייע אין די לעצטע פינף טעג.

Looks like the price of the crypto has mostly moved sideways over the past few days | Source: בטקוסד אויף טראַדינגוויעוו

Since Bitcoin’s quick rebound back above the $30k level from the crash down to below $26k, the coin hasn’t shown much movement.

At the moment, it’s unclear when BTC may break out of this consolidation that it has been stuck in during the past week.

Featured image from Unsplash.com, charts from TradingVIew.com, CryptoQuant.com