The Spent Output Value Ranges indicator, which measures the amount of Bitcoin sent to exchanges based on transaction volume, indicates a surge in Bitcoin transfers to exchanges from Bitcoin owners holding between 1,000 and 10,000 Bitcoin, representing the highest whale activity in a long time. This often indicates an intention to sell or distribute. In contrast, the Net Exchange Flows indicator, which expresses net flows to exchanges, shows large amounts of Bitcoin being deposited, reaching its highest level in about a year. These movements, which are the result of Bitcoin deposits to exchanges by entities classified as whales, could mean potential price volatility, especially if these individuals continue to deposit Bitcoin from their wallets to exchanges. This behavior could be reflected in other Bitcoin holders.
Written by Arab Chain
