Mignolet
exchange whale ratio is at its lowest level since 2018.
Specifically, there has been a weakening in whale activity on derivative exchanges. excessive use of leverage is decreasing, and there may be a shift toward price movements driven by spot trading. If prices continue to rise, it is likely that we won't see significant liquidation movements as we do now. Currently, spot whales are driving price increases. However, if there is an increase in whale activity on derivative exchanges could lead to overheating and a potential price decline.