Suplly in Profit (%) and Exchange Whale Ratio after half-life.

an interesting trend can be seen.

As the half-life comes to an end, the influence of miners gradually declines, and by 2024, BitcoinETF is launched, etc,

The influence of the price is more dependent on the Bitcoin ETF and CME in the U.S. market, rather than the influence of the exchanges, but it is an interesting trend to keep in mind.

Keeping in mind, the behavior of the whales of the exchanges is more informative than the behavior of the small caps.

Written by sachi