Whale Indicators Show New Price Direction for Bitcoin
Whale Selling Pressure Is Weakening
For weeks, Bitcoin's price lagged as whales rotated capital into other assets, leaving retail buyers to drive much of the movement.
That made it critical to monitor whether whales were finally slowing their selling. The Exchange Whale Ratio, which measures the ratio of the top 10 inflows compared to all inflows to exchanges, provides that signal.
This ratio fell from 0.54 on August 19 to 0.43 on August 22, its lowest level in nearly two weeks. A similar drop occurred on August 10, when the ratio fell to 0.42. That move preceded a strong rally in Bitcoin from $119,305 to $124,000, a gain of approximately 3.9%.
If history repeats itself, the current scenario could pave the way for a similar upward extension, possibly toward a new all-time high.
With BTC selling pressure easing, the next question is whether medium- and long-term holders are accumulating. The HODL Waves metric tracks the percentage of Bitcoin supply held across different age bands: #BTCWhalesMoveToETH
