Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,317,737,322	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,317,737,322

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.020	-2.21%	0.884	0.883	0.885

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.020

-2.21%

0.884

0.883

0.885

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.907	0.861	0.904	0.904	0.385000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.907

0.861

0.904

0.385000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:44:24	158.63	0.884	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:44:24

158.63

0.884

USD

Price x Volume	Volume	Base Symbol	Related Pairs
96,656.68	108,724.31	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

96,656.68

108,724.31

Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated

23/06/2022 8:00pm

NEWSBTC

The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales. Bitcoin Exchange Whale Ratio Continues To Be At High Values As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the moment. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten transactions to exchanges and the total Bitcoin exchange inflows. In simpler terms, this metric tells us how the whale transactions (that is, the ten biggest transfers) compare with the total amount going into exchanges. If the value of this ratio is high, it means whales are making up for a large part of the inflows right now. Such a trend can be a sign of dumping from these whales, and thus can be bearish for the crypto’s price. Related Reading | Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K On the other hand, low values of the indicator imply whales are making up a healthy part of the inflows currently. This trend can prove to be either neutral or bullish for the value of BTC. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last few months: The 72-hour MA value of the metric seems to have been high recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange whale ratio has stayed at pretty high values in recent days. Generally, the indicator’s value remains less than 0.85 during bull markets, while it stays at higher values than that in bear market periods. Related Reading | Bitcoin Rejected At $21K, Why A Retest Of The Lows Could Be Positive The current value of the ratio is above 0.90, which means more than 90% of the exchange inflow is from the ten largest transactions right now. This can be a hint that whales are dumping at the moment. Bitcoin attempted a recovery rally over the last few days after hitting the low below $18k, but the run has now slowed down as the value of the coin now looks to be moving sideways. This halt in the move may possibly be because of selling from whales that the exchange whale ratio is signaling right now. BTC Price At the time of writing, Bitcoin’s price floats around $20.7k, down 2% in the last seven days. Over the past month, the crypto has lost 31% 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 been consolidating sideways over the past few days | Source: BTCUSD on TradingView Featured image from Fábio Hanashiro on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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