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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Breaks $24k As Exchange Whale Ratio Declines

Keshav Verma
Keshav Verma
1 year ago
3 mins read
Bitcoin Whale

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On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark.

Bitcoin Exchange Whale Ratio (EMA 7) Is Currently Below 0.50

As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.

The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.

exchange whale ratio = sum of top 10 inflow txs (in BTC) ÷ total exchange inflows (in BTC)

Here, the ten largest transfers are considered as they generally belong to the whales. Thus, when the value of the ratio is high, it means whales are making up for a large part of the total inflows right now.

Since investors usually send their BTC to exchanges for selling purposes, this trend can be a sign that whales are dumping at the moment. and hence can be bearish for the crypto’s price.

On the other hand, low values of the metric can suggest whales are currently occupying a normal amount of the total inflows. Such a trend could be either neutral or bullish for the coin’s value.

Related Reading

Bitcoin Whale

Bitcoin Breaks $24k As Exchange Whale Ratio Declines

1 year ago

Now, here is a chart that shows the trend in the 7-day exponential moving-average Bitcoin exchange whale ratio over the past month:

Bitcoin Exchange Whale Ratio

The EMA-7 value of the metric looks to have been down in recent days | Source: CryptoQuant

As you can see in the above graph, the Bitcoin exchange whale ratio (EMA-7) has been below a value of 0.50 for seven out of the last eight days.

The 0.50 mark is the dumping threshold for the EMA-7 version of the metric and as the indicator has been below this value recently, the selling pressure from whales has been low.

Related Reading

Bitcoin Whale

Bitcoin Breaks $24k As Exchange Whale Ratio Declines

1 year ago

While the ratio has gone down, BTC’s price has enjoyed some upwards momentum as the coin surged up above the $24k mark earlier today.

BTC Price

At the time of writing, Bitcoin’s price floats around $23.5k, down 1% in the last seven days. Over the past month, the crypto has gained 15% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the value of the crypto has observed some upwards movement during the last couple of days | Source: BTCUSD on TradingView

Around ten days ago Bitcoin had recovered above $23k, but only a few days later the crypto’s price again started to go downhill. However, in the last couple of days, the coin enjoyed some sharp upwards momentum as it retook $23k.

Earlier today, BTC even broke above $24k, though it wasn’t long before the crypto saw a slump and came down to the current level.

Featured image from Karl-Heinz Müller on Unsplash.com, charts from TradingView.com, CryptoQuant.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.

Read more

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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