Bitcoin is suggesting a continuation of its bull run as whale inflows to exchanges stabilize this February. According to on-chain analytics, whale-sized inbound exchange transactions have reached a potential lower high, with the Whale Exchange Ratio peaking at 0.46 on February 12. This is a notable increase from a low of 0.36 in mid-December, when Bitcoin was near all-time highs. Although the price of Bitcoin has seen a drop since then, whale activity remains elevated, hinting at a possible future rally. Typically, a decrease in whale deposits on spot exchanges is a precursor to a bullish Bitcoin trend. Miners, another critical player in the market, are also reaching a bullish turning point after six months of near-constant outflows, which aligns with a capitulation phase often seen at market bottoms.

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