Bitcoin Breaks $24k As Exchange Whale Ratio Declines

On-chain data shows the Bitcoin exchange whale ratio has declined recently as the crypto surges above the $24k mark.
Bitcoin Exchange Whale Ratio (EMA 7) Is Currently Below 0.50
As per a post from CryptoQuant, the BTC exchange whale ratio has gone down recently while the price has surged up.
The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 Bitcoin transactions to exchanges and the total exchange inflows.
exchange whale ratio = sum of to