A critical metric has dropped to a 2-month low as Bitcoin (BTC) whales continue to withdraw their holdings from exchanges.
On-chain analytics platform CryptoQuant According to data presented by Bitcoin whales gradual continues to withdraw its assets from the stock markets. Stock-to-whale ratio According to this important metric known as on all cryptocurrency exchanges number of whales 0.3 point dropped to a critical level. This decline is particularly May since the middle of the month gained momentum.
This 0.3 point rate latest March was seen in the month. In addition, during the whale withdrawal in March, the price of Bitcoin was approximately $27,500 was level. stock market-whale most voluminous metric 10 BTC flow of transfer to stock exchanges divided by the total Bitcoin amount being calculated.
According to market analysts, whales with loss of confidence in stock markets are likely to hold their assets. to their private wallets pulling. On the other hand, analysts pointed to the prices that remained calm in the face of the movements of the whales, indicating that the market is psychologically affected. healthier And flexible He claimed that he went through a process.
According to the general opinion in the crypto money market, it is a problem for large investors to withdraw their Bitcoin assets from exchanges. as a harbinger of ascension being interpreted. With the move that the whales made that they would not sell these Bitcoins, the bull will start they may be thinking.
According to CoinGecko data, in the last 24 hours 0.4% depreciating Bitcoin, at the time of writing from $27,823 is being traded.
