Today, if we take a closer look at BTC inflows to exchanges coming from whales, we can see that some movement has taken place.
To minimize noise, we will focus on inflows wich that are averaged on a monthly basis, as this helps provide a clearer and more long-term view of the trend
During the previous two market tops, inflows exceeded $75B, which triggered the beginning of a correction/consolidation phase.
Currently, the monthly average has just jumped by nearly $17B, rising from $28B to $45B between July 14 and 18.
Even though the recent 80 000 BTC movement likely contributed to this increase, it still seems that whales took advantage of the new ATH to lock in some profits.
When taking a quick look at daily inflows, we can now see a clear decline, something that should be closely monitored,.
If this trend continues it could help easing the overall selling pressure as whales can exert significant selling pressure, just as they did during the last two tops.
Written by Darkfost
