CryptoQuant CEO Ki Young Ju Shares Graphic on Bitcoin Derivatives (BTC) Trading Audience Structure
Ki Young Ju, CEO and founder of top-tier on-chain analytics dashboard CryptoQuant, shared the dynamics of inflows of Bitcoins (BTC) on major derivatives exchanges. It looks like whales are avoiding trading futures in the last days of 2021.
Bitcoin futures trading volume (BTC) comes from retail
Mr. Ki Young Ju took to Twitter to share Bitcoin (BTC) flow charts between spot exchanges and derivatives trading platforms (30-day moving average).
It looks like the inflow on derivatives platforms is at its lowest since 2018. As such, it is most likely driven by small-sized retail investors.
This is usually a reliable bearish indicator. On the chart showing the price of Bitcoin (BTC) (displayed on a logarithmic scale), huge influxes caused by whales coincided with the surge in the price of Bitcoin (BTC).
The most impressive flow of whales’ capital to derivatives exchanges was registered after Black Thursday in Crypto. Also, whales injected a massive amount of money in Q3, 2021, when the Bitcoin (BTC) price doubled in three months.
Accumulation or distribution?
As covered by U.Today previously, this indicator has performed flawlessly in September 2021. Since early September, Bitcoin (BTC) whales have moved coins to futures exchanges to open new positions or fill the margin.
Also, CryptoQuant analysts revealed that some whales are dumping their Bitcoins (BTC). Thus, traders should stay super-vigilant until Bitcoin (BTC) holds over $51,000.
At the same time, things might not be so bad for Bitcoin (BTC) bulls. According to Glassnode data, the capitulation phase (when the price of Bitcoin fell to $ 42,200) is over and the Bitcoin Liquid Supply Change indicator has entered the bullish zone.
Also, the “Fear and Greed Index” has left “Extreme Fear” waters.
