In a “Quicktake” blog post on March 12, CryptoQuant contributor Darkfost revealed that the proportion of the top 10 largest inflows to Binance attributed to whales has declined.“Monitoring whale behavior has consistently provided valuable insights into potential market movements,” they summarized. “Given that Binance handles the highest volumes, analyzing the Bitcoin exchange whale ratio on Binance provides a good insight into broader whale activity.”Bitcoin exchange whale ratio (Binance).
Within this cohort, buyers holding between one week and one month now have a lower cost basis than those holding for between one and three months.“With Bitcoin prices dropping below $95k, this model also confirmed a transition into net capital outflows, as the 1w–1m cost basis fell below the 1m–3m cost basis,” the researchers explained. “This reversal indicates that macro uncertainty has spooked demand, reducing new inflows and arguably increasing the probability of further sell pressure and a prolonged correction.
Source: CryptoQuantThe exchange’s whale ratio has, in fact, exhibited a broad downtrend since mid-January when BTC/USD hit its latest all-time highs.“Currently, this ratio is declining, implying that Binance’s whales are reducing their selling pressure,” the post continued. “Historically, an increasing ratio has been associated with short-term price corrections or consolidation phases, while a decreasing ratio has often preceded bullish trends.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin whales hint at $80K ‘market rebound’ as Binance inflows cool" has 463 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin whales hint at $80K ‘market rebound’ as Binance inflows cool" was covered 21 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 1151 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
