Can Bitcoin whale deposits to exchanges actually predict BTC price?
Bitcoin deposits into exchanges have become a popular on-chain data point, but some say this metric can be misleading. Traders are increasingly checking on-chain data to "predict" both the short-term and long-term price trend of Bitcoin (BTC) using such platforms as CryptoQuant, Glassnode and WhaleAlert. Particularly, data points such as Bitcoin exchange inflows and outflows and stablecoin inflows are actively used by traders to anticipate where BTC may go next. 499 #BTC (29,979,163 USD) transferred from unknown wallet to #Coinbasehttps://t.co/zkhywRQS82— Whale Alert (@whale_alert) March....
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Bitcoin price spikes continue as data reveals exchange activity is anything but flat this week. Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows. According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits.Top 10 deposits make up 90% of exchange inflowsIn a marked change from previous behavior, over the past week, whales have become much more active prospective sellers on exchanges.The exchange whale ratio, which....
Data shows Bitcoin whales now account for 91% of the deposits going to exchanges, a trend that could be a bearish signal. Bitcoin Exchange Whale Ratio Surges To 91% As pointed out by a CryptoQuant post, the BTC all exchanges whale ratio has now risen to 91%, a historically bad sign for the crypto. The […]
The Bitcoin all exchanges whale ratio has soared, which might be an indicator that a crash could be coming soon, based on past patterns. The All Exchanges Whale Ratio Soars As pointed out by a CryptoQuant post, the Bitcoin All Exchanges Whale Ratio had a sharp spike on Sunday. The BTC All Exchanges Whale Ratio […]
A swift recovery from Bitcoin and altcoins are signals that BTC may have bottomed at $17,650. Bitcoin's (BTC) sharp correction to $17,650 came as no surprise to investors and many expected the digital asset to fall as low as $16,000. Thus, the quick recovery back to $18,600 is intriguing and it bolsters the popular belief that retail and institutional investors are keen to purchase every BTC dip. Although the possibility of another drop remains, three factors point toward a Bitcoin bottom at $17,650. The factors are, whale deposits hitting a peak, BTC posting a quick recovery, and trading....
Bitcoin loses $17,000 as whales started to deposit BTC to exchanges once again. The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase.Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections.Bitcoin struggles to regain momentum above $17,000After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to show some signs of....