Bitcoin Breaks $24k As Exchange Whale Ratio Declines

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,246,185,974	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,246,185,974

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.017	-2.00%	0.835	0.835	0.836

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.017

-2.00%

0.835

0.836

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.854	0.835	0.852	0.852	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.854

0.835

0.852

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:23:54	1.20	0.837	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:23:54

1.20

0.837

USD

Price x Volume	Volume	Base Symbol	Related Pairs
24,619.46	29,094.10	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

24,619.46

29,094.10

Bitcoin Breaks $24k As Exchange Whale Ratio Declines

29/07/2022 8:00pm

NEWSBTC

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