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Breaking News: Bitcoin Tops $73,000, Expert Explains Why The Rally Isn’t Over Yet
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Breaking News: Bitcoin Tops $73,000, Expert Explains Why The Rally Isn’t Over Yet

Bitcoin Big-Money On The Move: Exchange Whale Ratio Spikes To 0.6

Keshav Verma
Keshav Verma
Last Updated: March 7, 2026 6:00 am
2 mins read
Bitcoin Whales

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On-chain data shows the Bitcoin Exchange Whale Ratio has witnessed a sharp increase recently, indicating that large deposit transactions have gained dominance.

Bitcoin Exchange Whale Ratio Has Seen Its 30-Day SMA Value Hit 0.6

In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Bitcoin Exchange Whale Ratio. This on-chain indicator measures the ratio between the sum of the top 10 exchange inflows and the total exchange inflow.

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The ten largest transactions going toward exchanges are generally representative of deposit activity from the whale entities, so the Exchange Whale Ratio essentially tells us about how the inflows from these giants compare with that of the entire market.

When the value of the metric is high, it means the whales make up for a large share of the exchange inflows. As one of the main reasons why investors deposit to these platforms is for selling-related purposes, this kind of trend can be a sign that big-money holders are potentially distributing.

On the other hand, the indicator having a low value suggests the whales are making up for a relatively healthy portion of the total market deposits, which can be either neutral or bullish for the cryptocurrency.

Now, here is the chart shared by Maartunn that shows the trend in the 30-day simple moving average (SMA) of the Bitcoin Exchange Whale Ratio over the past decade:

Bitcoin Exchange Whale Ratio
The value of the metric seems to have shot up in recent days | Source: @JA_Maartun on X

As displayed in the above graph, the 30-day SMA of the Bitcoin Exchange Whale Ratio floated around the 0.45 mark during 2025, suggesting whale-sized transactions were making up for less than 50% of the exchange deposit activity.

Recently, however, the indicator has witnessed a sharp increase. This surge arrived as BTC saw its leg down to $60,000 in early February, but the metric’s value hasn’t calmed down even as the asset has stabilized.

Today, the Bitcoin Exchange Whale Ratio has a value of 0.6, meaning that the ten largest deposit transactions alone add up to 60% of the exchange inflow volume. It now remains to be seen how the BTC price will develop in the near future, given this possible selling pressure being applied by the large hands.

In some other news, the Bitcoin Inter-exchange Flow Pulse (IFP) has just seen a trend flip, as the analyst has highlighted in another X post.

Bitcoin IFP
Looks like the metric has crossed above the 90-day SMA | Source: @JA_Maartun on X

The IFP keeps track of the flows occurring between spot and derivatives exchanges. Earlier, this metric fell under its 90-day SMA and entered into a period of downtrend, implying speculative activity was declining.

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From the chart, it’s visible that the IFP has recently turned back up and crossed beyond the 90-day, implying derivatives flows could be making a comeback.

BTC Price

At the time of writing, Bitcoin is floating around $68,400, up more than 4% in the last seven days.

Bitcoin Price Chart
The price of the asset appears to have retraced from this week’s high | Source: BTCUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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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’s 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’t 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’t 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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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