Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

On-chain data shows Bitcoin whales are transferring large amounts to derivatives exchanges right now, a signal that more volatility could be ahead for the crypto. Bitcoin All Exchanges To Derivatives Flow Continues To Show High Value As explained by an analyst in a CryptoQuant post, BTC whale activity on derivatives exchanges still seems to be high. The relevant indicator here is the “all exchanges to derivatives exchanges flow,” which measures the total amount of Bitcoin moving from spot exchange wallets to derivatives. When the value of this metric spikes up, it means whales are currently moving a large number of coins to derivatives exchanges right now. Such a trend usually occurs around lows in the price of the crypto as whales look to get themselves long positions. Related Reading | Bitcoin Recovery Slows Down As Whale Inflows Remain Elevated On the other hand, low values of the indicator show whales aren’t moving much coins to derivatives at the moment. This kind of trend has historically lead to tops in the value of the coin. Now, here is a chart that shows the trend in the Bitcoin all exchanges to derivatives flow over the last couple of years: Looks like the value of the metric has been quite high recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin spot to derivatives flow has spiked up recently, suggesting that whale activity is pretty high right now. In fact, the...