The Bitcoin exchange whale ratio has spiked, indicating that whales may be selling their Bitcoin. When the ratio is high, it means that whales are making up a significant portion of the total market inflows, potentially applying selling pressure. The recent spike in the ratio hasn’t led to a significant price decline yet, but it could do so soon based on past occurrences. The Bitcoin market’s response to this potential selling pressure remains to be seen. Bitcoin is currently trading around $29,000, down 2% in the last week.
AI Sentiment: Negative
