Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-06-24 19:00:43

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

On-chain data shows Bitcoin whales are transferring large amounts to derivatives exchanges right now, a signal that more volatility could be ahead for the crypto. Bitcoin All Exchanges To Derivatives Flow Continues To Show High Value As explained by an analyst in a CryptoQuant post, BTC whale activity on derivatives exchanges still seems to be high. The relevant indicator here is the “all exchanges to derivatives exchanges flow,” which measures the total amount of Bitcoin moving from spot exchange wallets to derivatives. When the value of this metric spikes up, it means whales are currently moving a large number of coins to derivatives exchanges right now. Such a trend usually occurs around lows in the price of the crypto as whales look to get themselves long positions. Related Reading | Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated On the other hand, low values of the indicator show whales aren’t moving much coins to derivatives at the moment. This kind of trend has historically lead to tops in the value of the coin. Now, here is a chart that shows the trend in the Bitcoin all exchanges to derivatives flow over the last couple of years: Looks like the value of the metric has been quite high recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin spot to derivatives flow has spiked up recently, suggesting that whale activity is pretty high right now. In fact, the...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.