Whale Watching

Hey everyone and thanks for jumping back Into the cryptoverse today we're going To talk about Bitcoin and we're going to Do some whale watching if you guys like The content make sure you subscribe to The channel give the video a thumbs up And check out into the cryptiverse Premium at into the cryptiverse.com we Are running a sale right now links in The description below or the pinned Comment make sure you check it out and You can lock in that rate let's go ahead And jump in so the will watching series Is something that we do every few months Or so and I think it's useful in terms Of getting an idea of at least what some Of the larger wallets are doing now the Reason we don't provide more frequent Updates on this is because as always the On-chain data is is dubious at best Um in the sense that just because you See Bitcoin enter into a specific Address or leave a specific address it Doesn't mean that that person or entity Is buying or selling Bitcoin they could Just simply be moving Bitcoin around and And just because you see an address in Bitcoin to an exchange and it also Doesn't necessarily mean that they've Sold it at that exchange so you do have To consider that there's only so much we Can learn be that as it may I do think It's at least sometimes uh interesting To to take a look at some of the larger

Wallets and to see what are they doing In the same way that people who don't Have thousands of Bitcoin might disagree On on exactly where things are headed The the larger wallets that are Controlling tens of thousands of Bitcoin Can often disagree as well and sometimes You'll see large outflows and sometimes You'll see large inflows depending on on Which address it is now we're going to Go through through this systematically I Thought rather than rather than pick Ones that only tell a specific narrative I thought I'd pick a handful of both so We can look at some addresses that seem To be accumulating Bitcoin and we can Look at some addresses that seem to be Offloading some of their positions and And then we'll tie it up at the end by Looking at some some of the supply count Statistics on on the website okay Where we can actually group uh some of The you know some of these some of these Things so the first thing you'll notice In fact is that the top three wallets on Here are actually held by exchanges You'll see that number one here is the Binance cold wallet that has 248 597 Bitcoin so nearly a quarter of a Million Bitcoin in the wallet in this Finance code while binance has another Cold wallet right here number three that Holds a hundred and twenty seven Thousand three hundred and fifty one

Bitcoin there's also another one down Here it looks like a binance uh Reserve That has 68 200 Bitcoin so some of these Wallets are just a reflection of the Exchange and and the exchange of course Taking Um you know taking control of the Bitcoin that they hold and putting it Into some of these wallets for Theoretical uh keeping over the Long Haul and then you'll see that number two Here is the bitfinex cold wallet that Currently holds 100 168 000 and 10 Bitcoin one thing I I want to remind Everyone of and you know we could Probably say this more frequently is not Your keys not your crypto and if if this Last year has taught you anything it's That the the crypto that you hold on Exchanges does not necessarily belong to You and you've seen just how quickly Some of these you know some of these Platforms have gone down now I will be Clear I don't I don't wish for any of These businesses to fall you know a lot Of the companies that fell in 2022 yeah It's not like I was hoping for them to Fall it's just that you have to Understand that during a rate hiking Cycle and and during a period of you Know tighter monetary policy some Businesses will fall because they simply Are incapable of of managing their risk In the way that they should have and

They probably took on more risk than They should have And so it's hard to know uh but with That side I mean you know there are There are a couple exchanges up here you Have the binance code wallet you have The bitfinex cold wallet and and they Make up the top three addresses and so There's not going to be much we can Really understand by spending too much Time looking at these things I mean you Can see that that this you know that This Finance cold wallet had about 2 000 Bitcoin going out on January 7th another 2 000 Bitcoin going out here on November 28th Um and so on and so forth so it's not That interesting to me to spend too much Time looking at the exchange wallets What's more interesting is to look at The ones that are not necessarily known And here is one it's the the address That starts with one lq so if we go take A look at that one you can see and this Is one that it looks like some Bitcoin Has been leaving recently Um the LA I mean you can see all this is Just dust basically it's just really Tiny amounts of Bitcoin but the last Time they had outflows was on February 10th and it looks like they had three Different out close of 1666 Bitcoin each That might sound like a lot And frankly it is each of these ex you

Know each of these transfers represented About 35 million dollars worth of Bitcoin so quite a lot you know quite a Lot of Bitcoin 35 million dollars worth Be that you know while that might be the Case the the wallet as a whole still Holds a hundred and nineteen thousand Bitcoin so you have to imagine that even These larger wallets while sometimes it Might seem like a lot if they're if They're sending out you know two Thousand and three thousand Bitcoin that Might seem like a lot but in reality They're still holding quite a lot of Bitcoin and and more Bitcoin than I Think you know I would I can even Imagine Um holding you know holding 119 000 uh Bitcoin If you scroll further back you can see There was a period where it was just Sort of a slow accumulation of Bitcoin Right like in 2022 you know 300 Bitcoin There 118 here 220 105 548 and so you Know I don't know if you want to think About that as sort of like a a Um a whale dcing into into the market uh You can see some general accumulation Down here at 20 and 21k and then when it Got up to 22k you can see they sent a Thousand Bitcoin out and then at 19k uh They brought another 1200 Bitcoin in so You know I don't really know how you Want to interpret that

If you look at their the rightmost tab It shows sort of the profit and this of Course is just based on on the price of Bitcoin when they when they came across Or when these transactions were actually Carried out doesn't necessarily mean That's a reflection of their profit Right because again bringing Bitcoin Into the into this address and leaving It doesn't necessarily constitute a Buyer or sell they could just be sending It to another wallet but with that said You can see that once upon a time they Were you know carrying is quite a bit in In terms of profit to the tune of a Couple hundred million dollars I mean You can see they started accumulating Um quite a bit ago especially over here In in 2022 in July 2500 Bitcoin was Picked up at around 22k and then another 5 000 here and five thousand there so They accumulated it fairly quickly and Then ever since then they haven't really Been accumulating nearly as much in fact The last big inflow to this wallet was 500 Bitcoin back in November at 16k so You could argue that this whale Accumulated down here at 16k to 18K Right so 16k all the way down here to 18K and they they loaded back up on Bitcoin uh to the tune of a few thousand And then ever since then they've been Offloading it especially as we've gotten Into the latter the latter part of last

Year and then the new year as well But again I mean nothing has really Happened in this wallet since since February okay and the last time the last Time really anything happened was at a Price of 21 569 which is you know a lot Lower than than where we currently are Because right now we're at almost 25 25 000 so that's at least that wallet and This would be the fourth wallet on here Now the next one that we can look at is I have it up here bc1 so I believe no It's not this one it is Um Let me let me find it because I I Went ahead and looked through a lot of These because some of them don't really Have anything interesting going on so It's this one it's number ten and just So you're aware that I'm not just Skipping over some randomly if you were To go click on on this number five you Can see that there's just not a whole Lot going on I mean there was some Accumulation back in early 2022 when the Price was 38 000 or so uh but nothing Has really happened since then and so Some of these some of these addresses Are just not that interesting to follow Up on because nothing has really Happened Um but if you were to go look at this uh If we go take a look at the the bc1 QD So it's this whale number 10 here Um this is what it looks like and and

This one is a little bit different than The last one so this one you can see That not all I mean they started Accumulating it looks like back in late 2021 at uh you know at near 60 000 That's when a lot of inflows were coming Into this address and it continued Um but there was a 10 000 Bitcoin Outflow here in July 15th of 2022 there Is also another inflow November 1st and Then December 30th so the last inflow on This one was December 30th of 2022 at 16 558 and it's been relatively quiet ever Since so again this is one of the and This wallet by the way holds 59 000 over 59 000 Bitcoin so it holds a lot of Bitcoin Um the last one was an inflow but it was Several months ago and it's been Relatively quiet since then again not Not a whole lot going on Um you know in that at this time the Next one that I want to take a look at Is this one here so whale number 13 so If we go take a look at will number 13. This is another one that it looks like Its first inflow was in the summer of 2022 to the tune of about 32 000 Bitcoin It's interesting because I'm just Rounding 32 000 Bitcoin but it was Really 32 542 Bitcoin but just that Number right 542 Bitcoin would already Be a lot but it just gives you a sense Of the scale that some of these some of

These wallets are really working with 32 Over 32 000 Bitcoin of an inflow when The price was around twenty one thousand Dollars so of course this this um that One would currently be in profit even Though we know we did go lower in November it's it's currently in profit Right now because we went back up and Then Another inflow of about 8 000 Bitcoin Over here November 16th what's Interesting is you know you know how a Lot of people will often send like a Test transaction I have to imagine that For this whale it's a it's sort of a Test transaction of sending one Bitcoin First and then sending another 79.99 Right after it so to the total of of 8 000 Bitcoin that occurred on November 16th at about 16 549 another inflow on December 31st at Around 16 592 and then one final inflow On January 13th to the tune of five Thousand Bitcoin and nineteen thousand One hundred and sixty three dollars and Ever since then there's been no activity From this address I mean there's some Dust transactions uh but but no real Activity ever since January 13th so Some of these tend to have more Conviction than others right like so This address is you know it accumulated Back in in the summer and then during The during the crash that FTX had it it

Didn't really scare it away and in fact It just used that opportunity to to have More Bitcoin come in and then now They've just been sort of sitting on Their hands for the last couple of Months and this is one of the things I've said before and I will continue to Reiterate you know we talk about all Sorts of ideas on the channel as to Where Bitcoin is going to go and where's The altcoin market going to go and at The end of the day at least when it Comes to bitcoin I'm a bit more Conservative on on all coins because you Know you really never know what those Things but at least with regards to Bitcoin a DCA strategy is going to be The best thing for for most people I Mean like if you if you look at these What these whale addresses that that Sometimes are buying it at the highs and Selling at the lows you know if people With a lot more money Um are you know can can have difficulty With this I mean I think the whole idea Is that you just need to come up with a Strategy stick with it and then tune out The noise you know tune out the noise Um and I think that's probably the best Way to go and and you can see here again That's basically what these people did You know and and in June when they Picked it up at around 21k but they Probably felt pretty good for a while

And then when the floor fell out during The FTX collapse did they Panic sell Their Bitcoin No they picked on more So that's something something to Consider right like a a way to navigate The market rather than sell on Capitulations and buy on on crazy moves To the upside imagine doing the reverse And and that's something that um I think is something we can continue to Think about the next one I think we Should look at is this one Um so we just looked at this one so the Bc1q so let me see qjas Let me just oh yeah so it's this one Right here so then now we're going to Look at I believe whale number 19. So we'll take a look at that one and Then this one is another one that Started accumulating in September of 2022 which is just before the FTX Collapse about about a month and a half Before and it looks like they had Accumulated Um you know 26 000 Bitcoin right there a Little bit more right here so close to 30 000 Bitcoin before the FTX collapse And then after the FTX collapse it looks Like they added another 3500 3600 Bitcoin at 16.6 K but one thing this Also shows you is that just because a Whale is is aggressively adding to their Position to the tune of thirty thousand

Bitcoin like these like this person did Back in September doesn't mean that you Can't have something like FTX happen and The price go lower so you do have to be Careful right I mean just because one Wallet is accumulating a lot of Bitcoin Doesn't necessarily mean that there's Not another wallet offloading a very Similar amount of Bitcoin okay so in the Same way that there's smaller fish in The ocean uh there's also larger fish in The ocean and some accumulate and and Some are offloading their position and To give you an idea of that if you go Take a look at this address This address is kind of interesting Because it looks like you know it looks Like they've had a regular 100 Bitcoin Entering in uh for you know at least for The last Early part of March at at 22k 21k 20K And 19k and then now that we're up to The 22k to 24K range you can see they're Offloading some right 900 Bitcoin on March 12th another 1900 Bitcoin on March 13th another 1600 Bitcoin on March 15th But note that the off the offloading of This Bitcoin up here there was 83 in Right here but the offloading of Um you know 4 000 Bitcoin or so up here Occurred at higher prices than a lot of This inflow down down over here Okay so I mean some of these whales I Imagine are again playing these whale

Games where they you know they try to Buy low sell High I know a crazy a very Crazy concept uh and then the last one That I want to look at before we sort of Transition here There's one so it's 3qrx so let me just Go search for that one three qrx and It's okay so here's one this is whale Number 64. if you go take a look at well Number 64. you can see that they off or They they had an inflow of of about 15 000 Bitcoin on on October 5th at 20K And then they bought a little bit more Or I shouldn't say bought we don't know If it was bought but then another inflow Of around 600 Bitcoin on November 11th And then another 161 Bitcoin on January Or December 1st at around 17K but then On March 15th so yesterday there was an Outflow of 2500 Bitcoin at a price of Around twenty four thousand seven Hundred and twenty nine dollars which is Essentially the price that we are at Right now so again you know the point is That of all this is to say like we can Go and find whales that are doing Various things right some of them have Bitcoin coming in some of them have Bitcoin going out just because you see 2500 coming in on one exchange or one Address doesn't mean you don't have a Similar amount going out on another and And so there's going to be differences In in what each whale is doing based on

Likely their conviction on on where the Market is ultimately headed so the other Thing that I wanted to do Is to sort of take a quick look at the Supply count statistics these videos When I do videos on Supply count Statistics are not necessarily the most Popular so I'm just going to go put it At the end of this video in case anyone Is interested if you look if you break This down so we're going to look at the The number of the so the total amount of Supply held by addresses with with Certain amounts of Bitcoin okay so if You were to look at the total Supply Held by addresses let's say between 0.1 To 1 Bitcoin it's been going up okay if You look at between 1 to 10 Bitcoin it's Been going up right and actually at this FTX collapse it went up quite a lot the 10 to 100 Bitcoin Is steadily going up very very slightly Right now not a whole lot if you get Further up into you know potential uh Whale territory I mean this is a hundred To a thousand I don't really know where You want to distinguish it from it's More or less flat like it has it has Increased a little bit but it's more or Less flat right now not a huge a huge Change A thousand to ten thousand Bitcoin is Certainly whale territory this one's Kind of interesting because you can see

That it's actually going down Um Just something to think about Normally when when it's going down like This it's going down like into A Mania phase right like so the whales Will offload some of their Bitcoin into The Mania phase is the idea right you Can see that occurred over here at the Tail end of 2013. you can see that Um over here as well in 2017 it was Going down into that media phase and Then it just went sideways during the Bear market and then up a lot at this Collapse and then up into this bull Market but then down into the Mania Phase as the whales offloaded their Bitcoin Um and then ever since then it's Actually just been trending down so it Hasn't really leveled off just yet once It does level off it that would probably Be a more positive sign But it hasn't leveled off just yet and You could also look at this another way I mean one reason that the supply might Be going downhill by addresses with Between one to tenks they could just Simply be spreading their Bitcoin around At various wallets uh various addresses Maybe they don't want to have all the Bitcoin in one single address and so They spread it around and that could be A reason why it's falling but then

Another reason it could be falling is Just because liquidity is being cut off And not necessarily just from the crypto Verse but in general with tighter Monetary policy it's going to make it Harder and harder for you know new Entities Um to just swoop in and buy up tons of Bitcoin if if cash really isn't as cheap As it as it used to be and uh that's That's another way to of course consider It and if you continue on it gets a Little bit less interesting so here's Between ten thousand and a hundred Thousand Bitcoin this one uh has Actually been going up recently but you Can also see that it was uh this one's Not as informative because I mean here You can see that it was going up Throughout the last half of the bear Market and in the early stages of the Bull market and then it started to go Down but then it also went down like Crazy during this capitulation back in December of 2018 Uh which is is kind of interesting so It's just more or less just been on a Steady uptrend since the peak right Steady up Trend since the peak and and Note that when you're getting into Addresses this size it could also be you Know these exchange addresses that are That are holding Bitcoin rather than you Know individual and season here it is

For between a hundred thousand to a Million Bitcoin Um I mean it's kind of all over the place Right hard to hard to really make heads Or tails I think of of what's going on Here Um but in general when when it's going Up like like when it's at high levels Okay the price tends to be lower right It's like here and then here And then theoretically here so normally When it comes up to these levels it's More indicative of a recovery year right Where the the price of Bitcoin just sort Of chops around for a while just like it Did in 2015 and and like it did in 2019 And likely what it's just going to Simply do in um In 2023 so Hopefully this is useful to you guys uh Just a an update on the whale watching Series Um some someone had requested it earlier During the NFA live stream over on on Rob's Channel digital asset news and I Said all right well the next video will Be on Wheel watching since it has been a While since we discussed it and um and There you have it so we will try to do Another update on this probably in a few Months see what the whales are doing are They uh are they optimistic are they Pessimistic or where do they um where do

They stand thank you guys for tuning in Make sure you subscribe give the video a Thumbs up remember we do have the sale On into the cryptiverse premium at into The cryptoverse.com link to that is in The description below I'll see you guys Next time bye