Bitcoin whales have sold about 66% of the Bitcoin they recently accumulated 
since Wednesday, according to crypto sentiment platform Santiment.

Bitcoin dip may not be over as retail ramps up buying below $70K: Santiment

On-chain data shows the Bitcoin Exchange Whale Ratio has witnessed a sharp 
increase recently, indicating that large deposit transactions have gained 
dominance. Bitcoin Exchange Whale Ratio Has Seen Its 30-Day SMA Value Hit 0.6 
In a new post on X, CryptoQuant community analyst Maartunn has talked about 
the latest trend in the Bitcoin Exchange Whale Ratio. This on-chain indicator 
measures the ratio between the sum of the top 10 exchange inflows and the 
total exchange inflow. Related Reading: Bitcoin Faces On-Chain Air Gap To 
$81,000: Will Momentum Build? The ten largest transactions going toward 
exchanges are generally representative of deposit activity from the whale 
entities, so the Exchange Whale Ratio essentially tells us about how the 
inflows from these giants compare with that of the entire market. When the 
value of the metric is high, it means the whales make up for a large share of 
the exchange inflows. As one of the main reasons why investors deposit to 
these platforms is for selling-related purposes, this kind of trend can be a 
sign that big-money holders are potentially distributing. On the other hand, 
the indicator having a low value suggests the whales are making up for a 
relatively healthy portion of the total market deposits, which can be either 
neutral or bullish for the cryptocurrency. Now, here is the chart shared by 
Maartunn that shows the trend in the 30-day simple moving average (SMA) of the 
Bitcoin Exchange Whale Ratio over the past decade: As displayed in the above 
graph, the 30-day SMA of the Bitcoin Exchange Whale Ratio floated around the 
0.45 mark during 2025, suggesting whale-sized transactions were making up for 
less than 50% of the exchange deposit activity. Recently, however, the 
indicator has witnessed a sharp increase. This surge arrived as BTC saw its 
leg down to $60,000 in early February, but the metric&#8217;s value hasn&#8217;t calmed 
down even as the asset has stabilized. Today, the Bitcoin Exchange Whale Ratio 
has a value of 0.6, meaning that the ten largest deposit transactions alone 
add up to 60% of the exchange inflow volume. It now remains to be seen how the 
BTC price will develop in the near future, given this possible selling 
pressure being applied by the large hands. In some other news, the Bitcoin 
Inter-exchange Flow Pulse (IFP) has just seen a trend flip, as the analyst has 
highlighted in another X post. The IFP keeps track of the flows occurring 
between spot and derivatives exchanges. Earlier, this metric fell under its 
90-day SMA and entered into a period of downtrend, implying speculative 
activity was declining. Related Reading: Bitcoin Spot ETFs See 14-Day Netflows 
Surge: Demand Returning? From the chart, it&#8217;s visible that the IFP has 
recently turned back up and crossed beyond the 90-day, implying derivatives 
flows could be making a comeback. BTC Price At the time of writing, Bitcoin is 
floating around $68,400, up more than 4% in the last seven days. Featured 
image from Dall-E, chart from TradingView.com

Bitcoin Big-Money On The Move: Exchange Whale Ratio Spikes To 0.6

Mixers, privacy coins and the threat quantum computing could pose to Bitcoin 
were all points of speculation across the industry following the release of 
Trump’s Cyber Strategy.

Trump’s National Cyber Strategy pledges to support crypto and blockchain

As the broader crypto market retraces, Solana (SOL) has erased its recent 
gains despite strong institutional demand for investment products based on the 
cryptocurrency. Some analysts have now suggested that the altcoin risks a 
deeper pullback similar to its 2022 correction. Related Reading: Ethereum ETFs 
Record Best Single-Day Performance Since January With $169M Inflows Solana 
Loses Mid-Week Gains As Market Wobbles On Friday, Solana dropped 7% intraday 
to retest the $84 area again, retracing most of its intraweek gains. The 
cryptocurrency had been trading between $78-$88 since the early February 
crash, attempting to break out of its local range but ultimately failing. Amid 
the ongoing market volatility, driven by the US-Israel war with Iran, the 
altcoin jumped 13% on Wednesday, reaching a multi-week high of $94.05 before 
stabilizing between the $88-$92 area. Market observer Trader Tardigrade 
affirmed that Solana could target the $100 barrier if the breakout confirmed. 
He noted that the cryptocurrency was retesting the consolidation range 
breakout area as support, which could form a base for a climb to higher 
levels. Nonetheless, SOL’s price has now fallen back into its one-month 
accumulation range after failing to hold the breakout level on Friday morning. 
Rekt Capital observed that broader market conditions resemble early-stage Bear 
Market behavior, which could suggest Solana may be preparing for a deeper 
correction. Per the analysis, the altcoin has historically deviated below the 
$123.28 historical support when it was lost on the monthly timeframe. In 2022, 
after losing this level, SOL produced a deviation below it and traded below 
the $99.06 psychological level before rejecting from this area. Therefore, a 
new monthly close below both $123.28 and $99.06 could signal that these levels 
have been officially lost as support. However, it also opens the door to a 
rally back into them to retest them as resistance, similar to 2022. Shallow 
rebounds could lead to rejection from the $99.06 region quickly, he explained. 
Meanwhile, a stronger relief rally could allow Solana to revisit the $123.28 
level before determining whether additional downside continuation is next. SOL 
ETFs ‘Defy Physics’ Despite its recent price decline, experts have emphasized 
the positive sentiment exhibited by traditional investors toward Solana, as 
evidenced by the performance of investment products that track the altcoin’s 
price. In an X post, Eric Balchunas, Bloomberg Intelligence Senior ETF 
Analyst, stressed that although the cryptocurrency’s price is currently 57% 
down from when its spot Exchange-Traded Funds (ETFs) first launched in July, 
the category has accumulated $1.5 billion in flows and has “not really given 
any of it up.” He noted that half of those inflows have come from 
institutional investors, which he deemed a “serious investor base” and “really 
good signs” for the category’s future. “In reality/history of ETFs launching 
into that kind of downturn is near impossible to get inflows. Most wouldn&#8217;t 
even make it to age one or two if they went down 57% in the first six months. 
Timing is very important. Solana is defying physics here,” he explained. 
Related Reading: Bitcoin Reclaims $73,000 Amid Iran War Volatility, But 
Analyst Issues Key Warning Additionally, he offered a broader perspective by 
adjusting SOL’s $50 billion market capitalization to Bitcoin’s (BTC) $1.4 
trillion market cap. As he detailed, Solana ETFs have seen the equivalent of 
$54 billion in net new flows, approximately double what Bitcoin ETFs 
experienced at the same stage post-launch, when BTC was in an uptrend. 
However, it’s worth noting that the category experienced its first negative 
day in over a month on Thursday, with $5.23 million in outflows, according to 
SoSoValue data. Featured Image from Unsplash.com, Chart from TradingView.com

Solana Rally Over? SOL Risks 2022-Like Correction As Price Erases Mid-Week Recovery

Illicit crypto transactions surged to record levels in 2025, yet the digital 
asset economy continues expanding as legitimate adoption accelerates 
worldwide, highlighting a rapidly growing blockchain ecosystem that still 
overwhelmingly operates within legal activity. Illicit Crypto Flows Surge 
While Global Adoption Accelerates Despite the rise in illicit activity, the 
broader cryptocurrency ecosystem continues to expand […]

Cryptocurrency price in MXN