On-chain data shows Bitcoin whales have continued to put selling pressure on the market as the price of the crypto now drops below $20k.
Bitcoin Exchange Whale Ratio Has Spiked Up To High Values
As pointed out by a post from CryptoQuant, the exchange inflows that followed the US CPI release lead to the price crashing 10% in only a couple of hours.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges, to the total exchange inflows.
Since the ten largest transfers to exchanges are usually from the whales, this metric’s value tells us how much of the total inflows are coming from these humungous holders.
When the value of the ratio