Bitcoin Bullish Signal: Whales Are Building Their Positions On Derivatives

2021-10-23 22:00

On-chain data shows whales are sending their Bitcoin from spot exchanges to derivatives, indicating that they are building up their positions.

Bitcoin Whales Build Up Their Positions On Derivative Exchanges

As pointed out by a CryptoQuant post, Bitcoin whales seem to be moving their crypto from spot exchanges to derivative exchanges.

The relevant indicator here is the “all exchanges to derivative exchanges flow mean,” which shows the total amount of coins being transferred from spot exchanges to derivative exchanges.

When the value of this metric shows continuous high values, it means a lot of Bitcoin is being regularly moved to these derivative exchanges, which may hint that whale activity has been going on.

Low values would imply not many coins are moving in this direction, and could either be staying still, or be rather going the opposite way: from derivatives to spot.

Now, here is a chart that shows the trend that this indicator has followed over the last couple of years:

The BTC all exchanges to derivatives flow mean vs the price | Source: CryptoQuant

The above graph has different regions marked based on whether whales seemed to be accumulating at that time or not.

Related Reading | Despite New ATH, Bitcoin Exchange Reserves Continue To Decline

The green regions were when the price was mostly moving sideways and the indicator had the whales sending a lot of BTC to derivatives.

Following these periods of accumulation, the price had always shown a jump up during the period of the above chart.

However, once the indicator’s value became very low, BTC’s price has seemed to have made a top after which its value dipped down.

Related Reading | Lucky Buyers Possibly Bag $8K Bitcoin During Early Morning Flash Crash

Now, as is apparent in the graph, the current trend makes it look like whales have just started another phase of accumulation. This could turn out to be bullish for the future price.

BTC Price

At the time of writing, Bitcoin’s price floats around $61.5k, up 2.7% in the last seven days. Over the past month, the crypto has accumulated 42% in gains.

The below chart shows the trend in the price of the coin over the last five days:

BTC's price seems to be rapidly plunging down | Source: BTCUSD on TradingView

After setting a new all-time high (ATH) of $67k, Bitcoin has been sharply going back down in the past couple of days. It’s unclear at the moment which trajectory the coin might follow next, but if the spot to derivatives flow mean is anything to consider, whales seem to be accumulating. This could help the price bounce back up and set it up to reach higher ATHs.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 94934.55 (-0.60%)
Объем 24H $41.746b
Изменеия 24h: -2.70 %, 7d: -7.96 %
Cегодня L: $94531.21 - H: $97458.26
Капитализация $1879.682b Rank 1
Цена в час новости $ 61068.83 (55.46%)

bitcoin whales exchanges positions spot building derivative

Источник: newsbtc.com

bitcoin whales → Результатов: 126


Bitcoin Whales Remain Determined, $3.96 Billion Worth Of BTC Gobbled Up In 96 Hours

All eyes are on Bitcoin, especially as many traders continue to anticipate a break above the $100,000 mark. This anticipation has cascaded into a spike in activity, especially among Bitcoin whales. Interestingly, Bitcoin whales are making bold statements amidst the anticipation, with on-chain data pointing to an accumulation of over 40,000 BTC in just 96 […]

2024-11-25 20:30


Bitcoin Whales Not Done Buying: Accumulation Strong Even Above $90,000

On-chain data shows the Bitcoin whales have continued to purchase more even at the recent highs, a sign that could be optimistic for the rally. Bitcoin Large Holders Netflow Has Continued To See Positive Spikes Recently According to data from the market intelligence platform IntoTheBlock, the number of BTC whales has recently increased. The on-chain […]

2024-11-20 17:30


12-Year Bitcoin Slumber Ends: Whales Signal Stormy Seas Ahead

The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world. While some celebrate the digital gold’s record-breaking ascent, others watch with bated breath as long-dormant Bitcoin whales – entities holding massive amounts – begin to awaken from their slumber. Related Reading: […]

2024-3-31 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.