This is How the Top 5 Bitcoin Whales Play the Market
The post This is How the Top 5 Bitcoin Whales Play the Market appeared on BitcoinEthereumNews.com.
Crypto market participants rely on the behavior of Bitcoin (BTC) whales to understand the best time to buy coins. These large BTC investors can often use valuable insight from insiders and staff on when to enter the market or leave assets to earn passive income. BeInCrypto’s editorial staff reviewed the five largest Bitcoin whales to understand their activity in the present. The staff identified these “inhabitants of the crypto seas” using data from Bitinfocharts and Arkham Intelligence. How Largest Bitcoin Whale Plays Market The first whale whose activity was analyzed was the address 37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs. This wallet ranked sixth on Bitinfocharts and had the following characteristics: Balance: 94,505 BTC ($3.2 billion) Date when Bitcoin was first received: Sept. 6, 2019 Date of last receipt: Oct. 2, 2023 Activity at wallet address 37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs | Source: Bitinfocharts Since an unknown party sent 94,905 Bitcoins ($1.1 billion) to it on Sep. 6, 2019, this wallet’s balance has hardly changed. Its owner withdrew 0.71 Bitcoin ($25,000) on July 4, 2021. Read more: A Basic Guide On How Bitcoin Transactions Work Blockchain analytics reveals the wallet accepts monthly deposits of Bitcoin, suggesting its owner uses crypto to earn passive income. Analysis also confirms that the owner has been inactive for over two years. Read more: How to Use a Blockchain Explorer to Look Up Transactions Second Whale Appears Active in Markets Next, the editors looked at the address ranked eleventh on Bitinfocharts, bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4. Its activity can be summarized as follows: Balance: 57,576 BTC ($1.9 billion) Date of first Bitcoin receipt: Sept. 30, 2023 Date of last Bitcoin receipt: Oct. 10, 2023 Activity at Wallet Address bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4 | Source: bitinfocharts This address first bought Bitcoins on Sept. 30, 2022, and last accepted a deposit on Sept. 30, 2023. In the year following the initial deposit, the owner made…
Filed under: News - @ November 7, 2023 10:16 pm