CryptoQuant says bitcoin whale deposit activity grows amid ongoing bear phase
Bitcoin exchange inflows are increasingly dominated by whales, suggesting large investors are driving selling pressure during the bear market.Summary
Onchain analytics firm CryptoQuant reports that Bitcoin exchange inflows are increasingly dominated by large holders, with the exchange whale ratio hitting 0.64, the highest since October 2015, indicating large investors are fueling selling activity. While overall inflows spiked following a recent correction to $60,000 but have since dropped significantly, suggesting immediate selling pressure has eased, the average inflow size remains elevated compared to prior months. Concurrently, altcoins face broad selling pressure, and declining net Tether inflows suggest shrinking buying power or "dry powder." CryptoQuant concludes that this concentration of selling among whales, altcoin distribution, and low stablecoin liquidity leaves the market vulnerable to further volatility in the current bear phase.
(Source：The Block)