Traders aren't making huge impact on the market because their deal is to make a fast trade and get rid of their bitcoin with profit.
Whale traders tend to create those "bart simpson patterns" where they buy to liquidate shorts, wait if the small fish will follow their move and sell everything crashing the price back down to where it came from. Then they wait a day or two and do it again. It's just to liquidate leverage and does nothing good to bitcoin.
I don't follow them and hope you won't try to be smarter than they are.
Topic: Do you track bulk Bitcoin transactions being carried out by whales? - page 2. (Read 310 times)
November 02, 2023, 02:59:28 PM
November 02, 2023, 01:16:24 PM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
No I don't follow Bulk Bitcoin transactions being carried out by whales. What I follow is news about the current event of Bitcoin. The ETF applications and the market sentiment. I do not think there is a need to follow this bulk transaction, it will be on the news if it somehow have impact on the market.
If bulk BTC is being sold on the exchange then it will have an impact on the price, it is good for the people who are accumulating because this bulk sale can reduce the price of Bitcoin in the market but devastating to trader that wanted to sell at a higher price.
November 02, 2023, 12:19:06 PM
Do you track bulk Bitcoin transactions being carried out by whales?
What for? There's no benefit to know where they send their Bitcoin. We also have no capability to ensure where the whales send it. We only know they send the Bitcoin to new wallets. That's it, right? 
Do you feel it has good impact on Bitcoin prices ~
Theoretically, if the whales only send it to new wallets and don't plan to sell the Bitcoin on the exchanges, there will be no effect to the current price of Bitcoin. As long as there is no significant increase on the circulating supply, there will be no much impact on the price. So, unless the whales dump it by selling big number of Bitcoin on exchanges, we shouldn't be too worried about it.
November 02, 2023, 12:09:42 PM
The other thing is we don't know the different between a "whale" and a large institutional holder.
If it's not an exchange with a known address but rather some private equity fund that bought a bunch of BTC and is now moving it for some reason.
Using what @pooya87 said. If they are moving the coins from A to B in terms of just moving the coins to a different address in the fund it's going to do nothing to the price.
If they are moving the coins from A to B in terms of a private sale it's going to do nothing to the price.
If they are moving the coins from A to B in preparation of selling on a public exchnage it's going to do nothing to the price till the sell.
And so on.
I know someone sitting on 500BTC give or take from back in the day who just moved it to a new multisig address due to a bit of panic about not being able to find one of the 4 keys needed to sign (2 of 4)
Not a 'whale' but the move was mentioned about 2014 address coming alive for the 1st time in years.
Funny part it was not he moved the BCH and the other forks out in 2017 [which he has been living on] but nobody talked about that.
-Dave
If it's not an exchange with a known address but rather some private equity fund that bought a bunch of BTC and is now moving it for some reason.
Using what @pooya87 said. If they are moving the coins from A to B in terms of just moving the coins to a different address in the fund it's going to do nothing to the price.
If they are moving the coins from A to B in terms of a private sale it's going to do nothing to the price.
If they are moving the coins from A to B in preparation of selling on a public exchnage it's going to do nothing to the price till the sell.
And so on.
I know someone sitting on 500BTC give or take from back in the day who just moved it to a new multisig address due to a bit of panic about not being able to find one of the 4 keys needed to sign (2 of 4)
Not a 'whale' but the move was mentioned about 2014 address coming alive for the 1st time in years.
Funny part it was not he moved the BCH and the other forks out in 2017 [which he has been living on] but nobody talked about that.
-Dave
November 02, 2023, 11:19:10 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
The whale effect is often a setup built on a trap, and I never day trade based on whale movements. Because Bitcoin whales are notorious for bluffing. On cryptocurrency exchanges, buy and sell orders can be created at prices other than the spot price. Whales who want the price of Bitcoin to rise or fall can build a wall at the target price by entering a very heavy trade order on very high volume exchanges.
For example, placing a 500 BTC buy order at a price lower than the spot price could create a support point for Bitcoin. If the whale is really bluffing, it will cancel the order when the BTC price approaches the buy level. Because of the unregulated market, I prefer to trade based on technical and fundamental analysis.
We should watch the Whales and follow their trades, but we should not trade based on these trades alone. We should always make our investment and trading decisions after doing enough research and using technical and fundamental analysis methods.
November 02, 2023, 11:14:03 AM
On Twitter, there are some accounts that do this, and you can activate notifications if you want to follow such updates, but you cannot use them to predict the price because most of these deals are done OTC and at a price that may be different from the spot market, but sometimes tracking withdrawal may give a warning that an exchange has a problem. Or it was hacked and this happened rarely, so trying to track it with simple tools like this would not be a smart idea.
OP asked about on chain transactions to move bitcoin from one wallet to new wallet. I guess OP did not ask about deals to trade bitcoin between traders and sellers. You provided a correct information that whales can do their trades through OTC market but it is not OP question.Imagine if you contacted me on bitcointalk and sold me 1 million bitcoin and I sent you $35 billion wire transfer!! That won't affect the market at all. But imagine if you had sold 1 million bitcoin on the 4 top exchanges (Coinbase, Kraken, Bitfinex, Bitstamp). That would easily crash bitcoin to $20k levels.
November 02, 2023, 11:04:42 AM
I don't think it's unethical to track those transactions, considering that they're public and transparency is important, but, like a lot of people here, I don't do it myself. I don't want to dedicate time to it, but it's not just that. There are groups and accounts that do it for everyone, so it's not time-consuming to simply follow their updates, but I don't do that because I don't care about that.
I think those whale alert things are largely useless and meaningless, they don't impact the price and don't signify much because we often don't know the purpose of the transfer.
I think those whale alert things are largely useless and meaningless, they don't impact the price and don't signify much because we often don't know the purpose of the transfer.
November 02, 2023, 05:34:40 AM
What's the point of tracking them? Even if it does make waves, it's already too late to get out of the way because they've got what they came for already and the majority can't do a thing or two about it but get out while the prices are going down quickly because everyone wants to move with the whale. I guess the only point of tracking them is to probably get some informed decision on what you should do next be it trading or investing in bitcoin.
November 02, 2023, 05:10:14 AM
There is no need to track the whales transactions because it is a waste of time since there is nothing to benefit from it but only to have irrelevant thoughts that wouldn't be helpful to your conclusion on bitcoin. Don't poke your nose into other person financial life by monitoring their transactions from one wallet to another.
Talking about the price, it wouldn't affect the price of bitcoin because this is done sometimes and nothing happens to the market only panic from news that can affect the price of bitcoin and it will be for a short period.
Talking about the price, it wouldn't affect the price of bitcoin because this is done sometimes and nothing happens to the market only panic from news that can affect the price of bitcoin and it will be for a short period.
November 02, 2023, 04:58:01 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
It’s useless to track not only because their money won’t give benefits to you which is a waste of time but also the purpose of transfer is unknown so you will just paranoid most of the time. It’s watching someone’s wallet account and assuming by yourself what he will gonna do.
We are already passes the era when a single whale can give huge impact to the crypto market since crypto has much thicker liquidity now. Also there’s a lot of exchange transactions when they are moving their coins to different wallet.
November 02, 2023, 04:57:47 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
No it really its not actually important to follow since they cannot move the market if that's what you mean. Maybe try to focus on your trade or learn more from your own stats since this could bring you more good result than following those whales which doesn't give any contribution on your earnings. If they move some huge balances to other wallet it doesn't mean that bitcoin will dump, Although its crazy that sometimes manipulators use this but if you see how market react for sure you will find out that its really nothing.
Bitcoin market got huge volume if some of the try to sell or accumulate for sure it cannot affect anything so try to relax yourself if you are bit worried about their possible movement since they are just the same like us and the only advantage those guys have is they had a lot of money to spend on their trades.
November 02, 2023, 04:51:50 AM
On Twitter, there are some accounts that do this, and you can activate notifications if you want to follow such updates, but you cannot use them to predict the price because most of these deals are done OTC and at a price that may be different from the spot market, but sometimes tracking withdrawal may give a warning that an exchange has a problem. Or it was hacked and this happened rarely, so trying to track it with simple tools like this would not be a smart idea.
OP asked about on chain transactions to move bitcoin from one wallet to new wallet. I guess OP did not ask about deals to trade bitcoin between traders and sellers. You provided a correct information that whales can do their trades through OTC market but it is not OP question.When I did not have enough experience in cryptocurrency market, I felt cool, panic when I read news about big transactions from whales but nowadays, when I am more matured in this market, I no longer care about it.
If OP wants, like you said, OP can follows some Twitter accounts with notification for it like https://twitter.com/whale_alert
November 02, 2023, 04:39:27 AM
Relying on the decisions of whales is quite risky, although this method is quite popularized on the Internet, and even cases of successful transactions are described. However, this can be monitored, but followed completely without one’s own understanding that such trust can bring losses is completely thoughtless. As answered above, surveillance is tantamount to counting other people’s money, which is not entirely correct from a moral point of view.
November 02, 2023, 03:53:51 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data?
Why would I do that? For me, it's just a waste of time. There is no need to track someone sending his own money from one wallet to another for reasons I don't even know. It is like going to the bank to monitor how many customers withdrew large sums so that you can determine how healthy the bank is. I have seen many posts in this forum and social media with news of people moving large funds and as much as I can remember they did not affect the market. These transactions could be exchanges moving funds to another wallet or it could be an individual moving funds to another more reliable wallet.
I am not a trader but I heard that the market can respond to even insignificant activities. So traders can check them out.
November 02, 2023, 03:53:21 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
I do not exactly track them. But yes we need to keep an eye on them. They do really impact a lot in the price to be honest. When huge amount of Bitcoins are transacted, it creates movement in the market, so when you notice such, consider that as the good time to buy the coins. So at that time buy the coins and hold. Now when the price rises just sell it finally.
November 02, 2023, 03:44:47 AM
On Twitter, there are some accounts that do this, and you can activate notifications if you want to follow such updates, but you cannot use them to predict the price because most of these deals are done OTC and at a price that may be different from the spot market, but sometimes tracking withdrawal may give a warning that an exchange has a problem. Or it was hacked and this happened rarely, so trying to track it with simple tools like this would not be a smart idea.
Glassnode allows you to analyze the chain in more depth with some charts and analyzes that you may find useful, but it is a little expensive.
Glassnode allows you to analyze the chain in more depth with some charts and analyzes that you may find useful, but it is a little expensive.
November 02, 2023, 03:40:09 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
I'll join what the above people said. You can't make money on this, it has no real repeatable impact on the price. Usually such a whale has an agreement with a large buyer or plans its sale so as not to move the price too much. The only thing that may affect the price is a massive FUD attack from the largest mass media portals (like cointelegraph), which will spam about such a transaction.
November 02, 2023, 03:23:46 AM
What's the point to track that?
If there's a whale move the coins from unknown place (which might be a non custodial wallet) to centralized exchange, does it mean the whale will sell his coins? not really, he might use stake it in order to some %APY, who knows?
If there's a whale move the coins from CEX to non custodial wallet, does it mean the whale will hold his coins? maybe, but he has an option to send back to CEX and sell it, who knows?
If there's a whale move the coins from unknown place (which might be a non custodial wallet) to centralized exchange, does it mean the whale will sell his coins? not really, he might use stake it in order to some %APY, who knows?
If there's a whale move the coins from CEX to non custodial wallet, does it mean the whale will hold his coins? maybe, but he has an option to send back to CEX and sell it, who knows?
November 02, 2023, 03:14:26 AM
Do you track bulk Bitcoin transactions being carried out by whales?
No, I do not.I do not track any transaction at all.
Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
No. The only impact it has is on social media where they are posted with the intention of stoking interest from the readers and getting reposts to attract more audience. In truth the purpose of the transaction is unknown and that uncertainty will not change the sentiment of traders.Even if it does have an effect, it will be small and short lasting.
November 02, 2023, 03:09:28 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
I did in the past bullrun since there were a few bots that were built exactly for that purpose.During this time I became more and more interested in trading and read up on it and was often confronted with bots like this.
A well-known example would be the Whale Alert-Bot.
Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
Ofc, such sell and buy orders from whales can influence the market for a short time. I leave it to be seen whether this is necessarily a positive impact. 
Can a trader benefit from it?
Tbh, I don't believe in it, it actually didn't give me any advantage in my trading time that really gave me an edge. It sometimes drove me crazy when I was outside and received a notification and didn't have a short/long on at the time. Classic case of FOMO.
That was also the reason why I separated from it again.
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