Bitfinex ETH/BTC Whale Indicator [Benson]
This indicator monitors the ETH/BTC position changes of the Bitfinex whales.
When the indicator is on an upward trend, it signifies that the whales are accumulating long positions in ETH/BTC.
Conversely, when the indicator drops sharply, it indicates that the whales are exiting their long positions in ETH/BTC.
Since 2017, the actions of Bitfinex whales have shown a significant correlation with the ETH/BTC exchange rate.
This is because the strength or weakness of ETH/BTC is strongly related to the altcoin season.
Using this indicator effectively can help you identify the cycles of the altcoin season and outperform most of the market participants.
When the indicator is on an upward trend, it signifies that the whales are accumulating long positions in ETH/BTC.
Conversely, when the indicator drops sharply, it indicates that the whales are exiting their long positions in ETH/BTC.
Since 2017, the actions of Bitfinex whales have shown a significant correlation with the ETH/BTC exchange rate.
This is because the strength or weakness of ETH/BTC is strongly related to the altcoin season.
Using this indicator effectively can help you identify the cycles of the altcoin season and outperform most of the market participants.
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