🐋 WHALE WATCH : This chart looks pretty interesting because Binance is showing a volume of Perpetual trades that overwhelmingly dwarfs Spot by quite a margin. The Perpetual/Spot ratio is currently around 9x and at times in the chart, it even exceeds 10x. Specifically at the 10/9 mark Perpetual volume was about $11.05 billion while Spot was only around $1.19 billion. In simple terms most of the activity is happening in the derivatives market rather than direct BTC buying and selling. BTC has just pulled back up to the 85K zone so Im starting to pay more attention to the leverage buildup behind this rally. The faster the price runs the more I want to know how many futures orders are stacking up underneath.