Bitcoin Whales Repeatedly Move Fresh Coins to Exchanges Prior to the $42,000 Bitcoin Price Dip

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Bitcoin big players could be supposedly responsible for an imminent bitcoin price dip. Amidst the $42,000 price dip, Bitcoin whales have repeatedly moved fresh coins to exchanges. These large volume traders known as Bitcoin whales are probably planning to sell within a short period even as BTC price falls to approximately $47,000.

As of December 5th, an on-chain analytic firm in  its daily market update on QuickTake notified traders about the increasing rate of exchanges in relatively huge units.

Following from the risk posed by the Bitcoin whales and the emphasis on their high ratio metric exchange, the investors, according to CryptoQuant, were not giving room for any possibility of a short-term price action. Still the desire of the whales to sell in large volumes still keeps increasing.

The ratio metric spiked higher than the top level of 0.95, prior to the $41,900 dip that occured on Saturday. As of today, it is back to the same point.

The measurement of the size of the biggest outflows and inflows from next exchanges, comparative to the total inflows and outflows, is calculated by the exchange whale ratio.

CryptoQuant added that the exchange whale ratio has extended again to 95%, and the Bitcoin whales are not hesitating to deposit more BTC to exchanges.

Moving on, Cointelegraph recounted the sudden fall of open interest on future markers towards the end of last week. However, there is still an underlying debate on whether or not the ejection was enough to protect the rising and falling of prices from more losses. Currently, the future market atmosphere is bearish since the Taker Buy Sell Ratio is still negative.

Still on the future market sentiment, a reporter from Cointelegraph talked on the period where more than half of the markets are only looking forward to the occurrence of an additional downward tendency.

Before the last three weeks, many traders were expecting a parabolic movement to be happening in December. But, the ratio metric as regards exchanges has caused more BTC losses. 

CryptoQuant further observed that the reserves from exchange prior to this period, returned to their existing long-term downside trend even after spiking shortly, directly after the dip. As soon as the conjectured leverage ratio reduced to 22%, the future market began to cool off.

Because of the situation of things in the past few days, smaller investors have been uniting their positions, in a reverse manner. This action has become totally different from the Bitcoin price corrections made earlier in 2021, including the activities of the whales. 


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