What is this indicator?
Tracks very large movements of an asset by big wallets, which can signal major shifts in supply and demand. Whale movements toward exchanges are often met with more caution from the market.
How to read the chart
Sharp changes or a move outside this metric's normal range often coincide with important price turning points, and it's used as a secondary confirmation alongside technical analysis.
Practical tip
On-chain data is best used to complement technical analysis, not replace it; interpreting a single metric in isolation can be misleading.