On-chain data shows Bitcoin exchange whale ratio has started rising, suggesting that a dump of the crypto may be coming soon. Bitcoin Whales Now Account For 90% Of Inflow To Exchanges As pointed out by a CryptoQuant post, the exchange whale ratio has risen above 0.9, implying that dumping may be going on in the market. The “exchange whale ratio” is an indicator that measures the ratio between the total Bitcoin amount of top 10 transactions to exchanges and the total inflows. In simpler terms, the metric tells us how the ten largest transactions to exchanges compare with the total amount of coins moving to exchanges. When the indicator has values lower than 0.85, it means that the ten largest transactions to exchanges (which are assumed to belong to whales) make up for less than 85% of the total Bitcoin inflow amount. Such values have been historically healthy for the market. On the other hand, when the metric reaches high values, it implies the top ten transactions make up for most of the inflows to exchanges. Investors usually move their Bitcoin to exchanges for selling purposes. So, this trend may show that whales are currently dumping as they are moving vast amounts of coins to exchanges. Related Reading | Year 2021 Data Cements Bitcoin As Risk-On Asset Now, here is a chart that shows the trend in BTC exchange whale ratio over the past few months: Looks like the value of the indicator has risen recently ...