Bitcoin (BTC) whales may plan to sell soon as the BTC price activity is around $ 47,000.
In the daily QuickTake market update on December 5, the analyst firm CryptoQuant warned that major movements in the stock markets are on the rise again.
Data suggest that whales are more willing to sell
By emphasizing the whale relationship with the stock market, CryptoQuant concluded that ordinary Bitcoin investors do not take any risk when it comes to short-term price trading.
The whale rate measures the largest inflows and outflows from stock exchanges in terms of total inflows and outflows.
Before Saturday’s fall to 41,900 dollars, the reading rose above the top of 0.95 – and is back in the same area as Monday.
“Whales are still investing bitcoin on stock exchanges. CryptoQuant comments that the whale exchange rate has crossed 95% again.
“The buy-to-sell ratio remains negative, indicating a downward trend in the futures market.”
As Cointelegraph reported, open interest in the futures markets fell sharply at the end of last week, but there is still discussion about whether this crash is enough to protect price actions against further losses.
Annotated bitcoin exchange chart. Source: CryptoQuant
Cointelegraph member Michael van de Poppe continued that day on market sentiment: “This is the period when most markets are just waiting for more contractions.”
“Just like three weeks ago, most people expected the parabola to run in December.”
Exchange Resume total Bitcoin losses
Continuing, CryptoQuant notes that foreign exchange reserves have already returned to their current long-term downtrend after a brief rally just before the downturn.
Related: Funeral moods similar to BTC – 5 things to look for in Bitcoin this week
“The futures market began to decline as the calculated leverage rate fell by 22%,” the company added.
Detailed flow chart. Source: CryptoQuant
For its part, small investors have increased their positions in recent days – in contrast to the price adjustments for both whales and bitcoin that took place earlier in 2021.