{"id":371165,"date":"2021-11-23T14:30:31","date_gmt":"2021-11-23T11:30:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows\/"},"modified":"2021-11-23T14:30:31","modified_gmt":"2021-11-23T11:30:31","slug":"bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows\/","title":{"rendered":"# Bitcoin exchanges see large deposits despite BTC reserves hitting 3-year lows"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6ab0c079a69cd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6ab0c079a69cd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows\/#Top_10_deposits_make_up_90_of_exchange_inflows\" >Top 10 deposits make up 90% of exchange inflows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows\/#BTC_price_spikes_keep_coming_and_going\" >BTC price spikes keep coming (and going)<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin exchanges see large deposits despite BTC reserves hitting 3-year lows <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows.\u00a0<\/p>\n<p>According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_10_deposits_make_up_90_of_exchange_inflows\"><\/span>Top 10 deposits make up 90% of exchange inflows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a marked change from previous behavior, over the past week, whales have become much more active prospective sellers on exchanges.<\/p>\n<p>The exchange whale ratio, which measures how large the top 10 deposits to exchanges are relative to all deposits, is sounding the alarm.<\/p>\n<p>\u201cWhales are depositing BTC to exchanges,\u201d CryptoQuant CEO Ki Young Ju <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1463086105717198854\">summarized<\/a>.\u00a0<\/p>\n<blockquote><p>\u201c$BTC Exchange Whale Ratio(72h MA) reached 91%. This indicates the top 10 deposits take 91% of the deposit volume across all exchanges in the hourly timeframe.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/8e721da8-61c4-4b70-8e75-b640443dee0b.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD with exchange whale ratio annotated chart. Source: Ki Young Ju\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>The data presents an interesting counterpoint to the current narrative involving whales. <\/p>\n<p>As Cointelegraph reported, large wallets have been buying throughout the recent downturn, while on Tuesday, bid levels among whales increased on exchange Bitfinex from $50,000 to around $54,000.<\/p>\n<p>As responses to Ki additionally noted, outflows from exchanges en masse also continue, with reserves still at their lowest since mid-2018.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/f1a86117-47b8-46da-983f-7bf731b7012d.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange reserves chart as of Nov. 22. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_spikes_keep_coming_and_going\"><\/span>BTC price spikes keep coming (and going)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin saw volatile spikes Tuesday in what would correlate with sudden large-volume actions on exchanges.<\/p>\n<p><strong><em>Related:\u00a0Total crypto market cap drops by 6.7%, but futures data finds a silver lining<\/em><\/strong><\/p>\n<p>The phenomenon has played out several times over the past week, each time seeing a sudden burst in BTC price action that then dissipates at major resistance levels.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/f7e17aba-0c55-443a-87b7-2a4370796901.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 30-minute candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>For analysts, $60,000 nonetheless needs to return and hold as support once more in order to trigger a genuine change in the current downtrend.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-exchanges-see-large-deposits-despite-btc-reserves-hitting-3-year-lows\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin exchanges see large deposits despite BTC reserves hitting 3-year lows &#8221; Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows.\u00a0 According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange&#8230;<\/p>\n","protected":false},"author":1,"featured_media":371166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvMTViYmVhYzQtZGMyZC00NDkzLTk0MDMtMGE2MjEwNDg5MmRiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,73785],"class_list":["post-371165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=371165"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/371166"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=371165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=371165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=371165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}