This chart presents the BTC denominated inflow and outflow volumes to exchanges associated with Whale entities (with a 1k+ BTC aggregate on-chain balance).

This chart has the following traces:

• 🟢 Whale Inflow Volume to Exchanges [BTC]
• 🔴 Whale Outflow Volume from Exchanges [BTC]
• ⚫ Whale Netflow Volume to/from Exchanges 7D-EMA [BTC]

Average Whale Withdrawal Prices

Also shown are the rolling average withdrawal prices for this cohort across a series of starting dates aligned with significant market lows and events.

• 🟡 5-Jul-2017+ (launch date of Binance)
• 🔴 16-Dec-2018+ (2018 Bear market low)
• 🔵 12-Mar-2020+ (March 2020 low)