Ethereum Price Tied To BitMEX Whales: Quant Uncovers Link

A quant has pointed out how the trends in the BitMEX exchange reserve have affected the Ethereum price during the past few years.
BitMEX Ethereum Whales Have Shown Smart Money Behavior In Recent Years
In a CryptoQuant Quicktake post, an analyst discussed a pattern in the ETH exchange reserve of the BitMEX platform. The “exchange reserve” here refers to an on-chain metric that keeps track of the total amount of Ethereum that’s sitting in the wallets of any given centralized exch