While the price of bitcoin is 38% lower than its $69K price high three months ago, the amount of bitcoin on exchanges is at its lowest figure since April 2021. At the end of July last year, there was 2.59 million bitcoin held by crypto trading platforms, and today there’s only 2.36 million held by […]
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In one instance, Bitcoin miners are helping oil companies cut flaring by using generators running on natural gas that would otherwise be burned into the atmosphere.
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Hello! I want to keep clear I only have 1 PC and I store my cryptos in exchanges/metamask, until I buy my ledger. So I had these questions Am I ok having these apps in my PC? * Cracked Photoshop, Anki, Atomic Wallet, Brave, Chrome, CCleaner, Discord, Malwarebytes, Telegram, WinRAR, Zoom I'm getting started…
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On-chain data shows the Bitcoin exchange whale ratio has spiked up recently, a signal that shows dumping may be going on in the market. Bitcoin Exchange Whale Ratio Surges Up As Price Declines As pointed out by an analyst in a CryptoQuant post, the BTC exchange whale ratio has risen to very high values recently. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 transactions to exchanges and the total amount of Bitcoin moving into exchanges. In simpler terms, this metric tells us what part of the total exchange inflows the ten largest transactions make up for. Usually, these large transactions belong to the whales. So if the value of the indicator becomes high, we can tell that whales are sending large amounts to exchanges as they now make up for a bigger part of the total inflows. Such a trend can prove to be bearish for the price of Bitcoin as it may show that whale dumping is going on currently. On the other hand, if the ratio goes down, it means a healthier balance is returning the market as whales control a lesser part of the exchange transactions. Related Reading | JPMorgan Puts Bitcoin At $150,000 In The Long-Term, But What About Its ‘Fair Value’? Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the past year: Looks like the value of the indicator has spiked up recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin whale ratio has surged up to some high values over the past couple of days. The current values are at similar levels to those observed in early January, shortly following which the price crashed down hard. The quant has marked this trend in the chart. Related Reading | Bitcoin Active Addresses Surpass 1.02M Three Days In A Row, What Happened Last Time Since the exchange whale ratio is at these values, a similar trend may follow now as well. In such a scenario, the outlook of the price of Bitcoin will be bearish at least in the short term. BTC Price At the time of writing, Bitcoin’s price floats around $42.2k, down 1% in the last seven days. Over the past month, the crypto has lost 1% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have sunk down over the last few days | Source: BTCUSD on TradingView A few days ago, Bitcoin’s price had climbed up beyond the $45k mark, but the recovery didn’t last too long. Over the last few days, the coin has dropped down to the current $42k levels. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
CoinShares data reveals that the worst of the crypto market downturn may have passed as institutions bought the dip.
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BTC price continues to consolidate, a process that gives altcoin traders the opportunity to range trade and secure short-term gains.
In what has been a volatile day of trading, MINA is one of the biggest gainers in crypto to start the week. In addition to this, crypto.com coin (CRO) was in the red, despite pulling out all the stops in a Super Bowl ad that featured LeBron James. Biggest gainers A week to the day, […]
