Bitcoin Whale Rate Rises, Could It Be An Accident?

The bitcoin rate has risen across all exchanges, which could be an indication that a crash could happen soon, based on past models.

Whale Rate Rises On All Exchanges
As cryptoquant noted, the bitcoin rate rose sharply across all exchanges on Sunday.

The BTC rate on all exchanges is defined as the total number of coins in the top 10 transactions of all exchanges (i.e., the most transactions submitted by BTC), divided by the total number of coins entering the exchanges.

Bitcoin ratio in all exchanges = top 10 TXS exchange entries (BTC) Total ÷ Total Exchange entries in BTC

The indicator shows the relative size of the best trades to the total entry in all exchanges. On this basis, it becomes possible to determine the proportion of whales using exchanges.

Now, here’s what the whale rate table looks like on all bitcoin exchanges for 2021:

BTC whale rate appears to have increased / source: CryptoQuant
As the chart shows, the value of the bitcoin whale rate on all exchanges seems to have increased significantly recently.

A striking feature of the chart is that the indicator value is currently around 0.6, surpassed only on three other occasions for the year.

Read / Analyst On The Topic: Bitcoin & # 39; Critical Macro Support Transition & # 39; Nears”

And soon after those periods when the rate peaked, there was always a drop in the price of bitcoin.

The reason for the decline is that when the indicator rises in price, whales send their BTC to exchanges for sale/exchange purposes. The whales that dropped their money always dropped the price.

Price Биткоина
Since its publication, the price of BTC is around 33.5 thousand and has fallen by almost 0.8% in the last 7 days. Compared to a month ago, the transaction cost is about 6% lower.

Here is a chart showing the trend in Bitcoin price change over the last 6 months:

BTC price appears to be falling / source: BTCUSD in trading

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