Price-DAA suggested a possible exit position amid low volatility.lost hold of the $29,000 region following a slight decrease in price in the last 24 hours. For a coin that began the year on a strong note, its rollercoaster ride down the chart amid significant volatility has been worthy of note.However, it seems that BTC might not exit this state of consolation and falling value soon.
The exchange whale ratio is an indicator that measures the ratio between the sum of the top 10 transactions to exchanges and the total amount of Bitcoin moving into exchanges.are using exchanges in large amounts. But when the metric is low, it implies how whales are evading the use of exchanges for transactions.on CryptoQuant, noted that the exchange whale ratio was at an All-Time Low .
Historically, when the ratio drops to a low and rebound, the BTC price severely decreases. The analyst referred to similar happenings in February 2018 and May 2021 saying, “In Feb ’18, and again in May ’21, when it rebounded from an all-time low ratio, its price peaked and started to decline. Since Q4 ’22, the ratio has been in a downward spiral, so there hasn’t been a significant drop so far. But it’s worth keeping an eye on because it could rebound at any time, and when it does, the price could follow historical patterns.” have been decreasing.
The decrease in large movement means BTC volatility could decrease and the price could continually compress.So, will BTC fall below $28,000? For this potential projection, the Daily Active Addresses might come in handy. In most cases, Bitcoin’s price has a strong correlation with the DAA.
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