Bitcoin Bearish Signal: Whales With 1k-10k BTC Depositing To Exchanges

On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC seem to have sent a large stack to exchanges recently. The “exchange inflow” is an indicator that measures the total amount of Bitcoin being transferred to wallets of all centralized exchanges (both spot and derivatives). When the value of this metric spikes up, it means a large number of coins are being deposited to exchanges right now. Depending on how many of these are being moved to spot exchanges, such a trend can be bearish for the price of BTC as investors usually send to these exchanges for selling purposes. Related Reading: Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction On the other hand, low values of the indicator suggest there is little selling going on in the market at the moment. Therefore, this kind of trend can be neutral or bullish for the value of the coin. Now, here is a chart that shows the trend in the Bitcoin all exchanges inflows over the last few days: The value of the metric seems to have spiked up recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin all exchanges inflows have registered large values during the last couple of days. The latest sp...