Old Bitcoin Supply Moves Into Derivatives, Whales Setting Up Long Positions?

On-chain data shows Bitcoin supply older than two years has moved into derivative exchanges recently, suggesting whales may be positioning themselves on the futures market. Derivative Exchange Inflow Of Bitcoin Supply Older Than 2 Years Has Spiked Up As pointed out by an analyst in a CryptoQuant post, the recent short-dominant open interest has gone down while some old coins have just been shifted into exchanges. The relevant indicator here is the “derivative exchange inflow,” which measures the total amount of Bitcoin moving into wallets of all derivative exchanges. A modified version of this metric, the “inflow spent output age bands,” tells us what the individual contribution has been from the various holder age groups to the total inflows. The investor cohorts of interest here are those who have been holding onto their coins since at least 2 years without having sold or moved them (before now). Looks like the value of the metric has spiked up over the past day | Source: CryptoQuant As you can see in the above graph, the Bitcoin derivative exchange inflow from the 2 years+ old investor group has spiked up recently. This shows that these BTC hodlers are moving significant amounts to exchanges for setting up positions in the derivatives market. Related Reading: How To Become A Millionaire? Invest In Uniglo (GLO), Bitcoin (BTC) And Polygon (MATIC) It’s unclear whether this transfer is with th...