KriptoCenneti
Whales are no longer aggressively distributing, while U.S. spot demand is turning positive.
The Exchange Whale Ratio has dropped significantly from recent highs, indicating that large holders are not sending substantial volumes to exchanges. This suggests distribution pressure is fading. At the same time, the Coinbase Premium Index has flipped back into positive territory (~0.015), signaling renewed U.S. spot buying interest. This combination is structurally constructive: Reduced whale selling pressure Improving institutional demand Price attempting stabilization Historically, such setups often appear during bottoming or early recovery phases rather than during distribution tops. Unless Whale Ratio spikes back above 0.7–0.8, the current structure favors stabilization and gradual upside attempts.