Bitcoin Whale Selling Pressure Continues As BTC Dips Under $20k

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	28,124,957,522	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

28,124,957,522

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.010	-1.90%	0.5159	0.5157	0.5158

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.010

-1.90%

0.5159

0.5157

0.5158

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5264	0.5093	0.5257	0.5259	0.399480 - 0.950000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5264

0.5093

0.5257

0.5259

0.399480 - 0.950000

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	17:01:52	72.49	0.51582	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

17:01:52

72.49

0.51582

USD

Price x Volume	Volume	Base Symbol	Related Pairs
13,917,779.64	26,929,978.66	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

13,917,779.64

26,929,978.66

Bitcoin Whale Selling Pressure Continues As BTC Dips Under $20k

16/09/2022 8:00pm

NEWSBTC

On-chain data shows Bitcoin whales have continued to put selling pressure on the market as the price of the crypto now drops below $20k. Bitcoin Exchange Whale Ratio Has Spiked Up To High Values As pointed out by a post from CryptoQuant, the exchange inflows that followed the US CPI release lead to the price crashing 10% in only a couple of hours. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges, to the total exchange inflows. Since the ten largest transfers to exchanges are usually from the whales, this metric’s value tells us how much of the total inflows are coming from these humungous holders. When the value of the ratio is high, it means whales are making up for a large part of the total transactions to exchanges. Such a trend can be a sign of dumping from this cohort. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio (EMA 7) over the year 2022 so far: The value of the metric seems to have been quite high in recent days | Source: CryptoQuant As you can see in the above graph, the 7-day exponential moving average of the Bitcoin whale ratio has been elevated recently. This shows that a big part of the recent activity on exchanges has been coming from these holders. Another indicator, the Spent Output Value Bands, tells us what the individual contributions to the inflows are from the different holder groups in the market. Investors are put into these cohorts based on the amount of BTC they are holding in their wallets. Related Reading: Bitcoin Bearish Signal: Miners Continue Transfers To Exchanges The below chart shows the trend in this metric specifically for the 1k to 10k BTC and 10k+ BTC holder groups. Looks like the two cohorts have been active in recent days | Source: CryptoQuant As the graph shows, both the whales holding between 1k to 10k BTC and those with 10k or more BTC have actively contributed to the exchanges recently. A few large spikes from them came right before the recent plummet in the Bitcoin price that took its value down to $20k. Related Reading: Amidst Volatile Market Uniglo (GLO) Keeps Surging Over 35%, Whilst Bitcoin (BTC) And RIpple (XRP) Struggling The quant in the post notes that later today’s values of the exchange whale ratio can be important in judging how severe its moving average is going to be. BTC Price At the time of writing, Bitcoin’s price floats around $19.7k, down 6% in the past week. The value of the crypto has dipped below $20k now | Source: BTCUSD on TradingView Featured image from Andrew Bain on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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