This metric is used to track the activity of whales, who are entities that hold the largest amounts of Bitcoin and have the most influence in the market. When the value of this metric is high, it means that the top ten exchange inflows are making up a significant part of the market deposits. This could imply that these large holders are contributing a high amount of selling pressure, which could be bearish for the asset.

The 60-day moving average of the Bitcoin Exchange Whale Ratio has been climbing rapidly in recent months, suggesting that whales have been increasing their share of exchange inflows. This rise in the indicator has come as the price of Bitcoin has enjoyed growth and set a new all-time high. However, the price of Bitcoin has lost its bullish momentum and has been moving sideways recently. The analyst notes that this could be due to the huge demand for spot ETFs, but it remains to be seen how long this demand will be able to absorb the increasing selling pressure from whales.

The Exchange Whale Ratio is an important metric to track because it can provide insight into the market activity of whales, which can have a significant impact on the price of Bitcoin. When the ratio is high, it may indicate that whales are increasing their selling pressure, which could be bearish for the asset. On the other hand, when the ratio is low, it may indicate that whales are making up a relatively healthy part of the total exchange inflows, which could have a bullish effect on the price.

The recent rise in the Exchange Whale Ratio has been accompanied by a decline in the price of Bitcoin, which has lost its bullish momentum and has been moving sideways recently. This could be due to the increasing selling pressure from whales, which could be contributing to the decline in price. However, it is also possible that the demand for spot ETFs is absorbing some of the selling pressure, which could be why the price of Bitcoin has not declined further.

Overall, the Bitcoin Exchange Whale Ratio is an important metric to track because it can provide insight into the market activity of whales, which can have a significant impact on the price of Bitcoin. The recent rise in the ratio suggests that whales are increasing their selling pressure, which could be bearish for the asset. However, it remains to be seen how long the demand for spot ETFs will be able to absorb this increasing selling pressure, and whether the price of Bitcoin will succumb to a similar decline as in the past when buying does dry up.

Bitcoin's "Exchange Whale Ratio" is a key indicator of market sentiment, and its recent surge has sparked concerns among investors. The ratio, which measures the proportion of large transactions to total exchange inflows, has been steadily climbing, suggesting that whales are becoming more active in the market. This could be a sign of increased selling pressure, which could be bearish for the asset.

The rise in the Exchange Whale Ratio has been accompanied by a decline in the price of Bitcoin, which has lost its bullish momentum and has been moving sideways recently. This could be due to the increasing selling pressure from whales, which could be contributing to the decline in price. However, it is also possible that the demand for spot ETFs is absorbing some of the selling pressure, which could be why the price of Bitcoin has not declined further.

The Exchange Whale Ratio is an important metric to track because it can provide insight into the market activity of whales, which can have a significant impact on the price of Bitcoin. Whales are entities that hold large amounts of Bitcoin and have the ability to move the market with their transactions. When they are active, it can be a sign of increased market volatility, and their transactions can have a significant impact on the price of Bitcoin.

The recent rise in the Exchange Whale Ratio has been accompanied by a decline in the price of Bitcoin, which has lost its bullish momentum and has been moving sideways recently. This could be due to the increasing selling pressure from whales, which could be contributing to the decline in price. However, it is also possible that the demand for spot ETFs is absorbing some of the selling pressure, which could be why the price of Bitcoin has not declined further.

Overall, the Bitcoin Exchange Whale Ratio is an important metric to track because it can provide insight into the market activity of whales, which can have a significant impact on the price of Bitcoin. The recent rise in the ratio suggests that whales are becoming more active in the market, which could be a sign of increased selling pressure. However, it remains to be seen how long the demand for spot ETFs will be able to absorb this increasing selling pressure, and whether the price of Bitcoin will succumb to a similar decline as in the past when buying does dry up.

The Bitcoin Exchange Whale Ratio is a key indicator of market sentiment, and its recent surge has sparked concerns among investors ¹. The ratio, which measures the