BTC whales actively use over-the-counter transactions
According to a CryptoQuant report, bitcoin whales do not prefer exchanges, but over-the-counter transactions.
For several years, the rate of inflow of bitcoins to centralized exchanges has been declining, which demonstrated the interest of whales in OTC transactions. To date, it has reached its lowest level since 2015.
This ratio shows the ratio of bitcoins on centralized exchanges to the trading volume on the BTC market as a whole. If this indicator is high, then investors are actively trading on the stock exchange. Otherwise, the exchange activity is low, as it is now.
You can see the coefficient for recent years in the photo below:
There is a noticeable decrease in the indicator, and this is a minus. After all, when the coefficient was higher, the bullish growth of the cryptocurrency began in 2021. However, soon the active inflow of bitcoin to the exchanges slowed down, and is now at the level of 2015.
The data is shown on the graph with two lines. The purple ones show the movement of coins from investors who invest from $1-$10 thousand, and the red ones show the movement of funds from bitcoin whales.
It appears that large investors have been active since the end of summer 2020, which can be seen in the decline in the fund flow ratio. However, most of the funds passed bypassing cryptocurrency exchanges. This means that large investors have chosen over-the-counter transactions for trading.
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