Under the shadow of Omicron variant virus, bitcoin market has been volatile recently, once diving back to test $42,000 over the weekend, although now back to around $50,000, but data shows that as a big investor in Bitcoin whale selling desire may not reduce but increase.

CryptoQuant, a blockchain data analytics firm, has warned exchanges of another increase in large trades as it released its QuickTake Market Intelligence update. This means that large inflows of bitcoin into cryptocurrency exchanges have increased, which could herald more selling pressure and volatility in the market.

To judge by the Exchange Whale Ratio, these Bitcoin whales are not taking risks in short-term price movements. The ratio spiked above 0.95 before it dipped below $41,900 on Saturday and was back at that level by Monday.

The exchange whale ratio refers to the size of the largest inflows and outflows of each cryptocurrency exchange as a proportion of the total inflows and outflows on the exchange. Whales are still depository bitcoin in cryptocurrency exchanges, pushing the exchange whale ratio above 95% again, but the Taker Buy SellRatio remains negative, reflecting widespread bearish sentiment in the futures market, CryptoQuant noted.
According to Cointelegraph, openinterest contracts in the futures market fell sharply over the weekend, but the market is still debating whether that was enough to keep bitcoin prices from falling further. “Like three weeks ago, most people were expecting a parabolic uptrend in December,” Michael Van de Popp, a contributor and analyst at Cointelegraph, said of the day’s market.

Moreover, after a brief spike in exchange reserves, bitcoin has now returned to its long-term downward trend, with futures markets cooling as estimated leverage drops to -22%. But the continued high volume of trading on exchanges suggests that big players expect bitcoin prices could still fall suddenly.

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