Arab Chain
Whales Send Bitcoin to Exchanges
The Exchange Netflow indicator indicates that net inflows from Bitcoin to exchanges were high yesterday, reaching 16,417 Bitcoin, the highest since mid-July. This indicates that a large number of Bitcoin owners have moved Bitcoin to exchanges. Conversely, the Exchange Whale Ratio indicator rose to levels exceeding 0.70 meaning that most of these deposits were from whales. When large deposits coincide with whales dominating these deposits, the market typically enters a phase of selling pressure and rapid decline. If whales continue to deposit Bitcoin to exchanges at the same pace, further pressure on the Bitcoin price is expected. Whales selling at this time means they are either taking profits, anticipating upcoming pressure, or reallocating their positions for a price correction. This is because they see signs of weakness in the market, such as low liquidity or weak demand.