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$BTC How to monitor whale movements using On-Chain data
Whales have a significant impact on price movements as they hold a large amount of BTCs . Therefore, it is advisable to monitor them daily using the BTC Whale Ratio metric on CryptoCount.
To make it easier for you, I have designed a user-friendly indicator that tracks whale movements on both spot and derivative exchanges.
Indicator Reading:
Green metric : Measures whale movements on derivative exchanges. I have set a threshold at 0.66. When the indicator reaches this level, significant market movements, either upward or downward, may occur.
Red Indicator: Measures whale movements on spot exchanges. I have set a threshold at 0.72. When the indicator reaches this level, there may be selling pressure in the near term.
The indicator updates daily with the closing price.
Whales have a significant impact on price movements as they hold a large amount of BTCs . Therefore, it is advisable to monitor them daily using the BTC Whale Ratio metric on CryptoCount.
To make it easier for you, I have designed a user-friendly indicator that tracks whale movements on both spot and derivative exchanges.
Indicator Reading:
Green metric : Measures whale movements on derivative exchanges. I have set a threshold at 0.66. When the indicator reaches this level, significant market movements, either upward or downward, may occur.
Red Indicator: Measures whale movements on spot exchanges. I have set a threshold at 0.72. When the indicator reaches this level, there may be selling pressure in the near term.
The indicator updates daily with the closing price.