This is How the Top 5 Bitcoin Whales Play the Market

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 a single withdrawal of about $1,000 in Bitcoin. The fairly recent wallet activity suggests that the address owner still controls their coins.
Bronze Also Puts Assets to Work
The third-largest (bronze) wallet, 1LdRcdxfbSnmCYYNdeYpUnztiYzVfBEQeC, ranked 12th on Bitinfocharts, had the following characteristics.
Balance: 53,880 BTC ($1.8 billion)
Date of first Bitcoin receipt: May 27, 2014
Date of last Bitcoin receipt: Oct. 28, 2023
Activity at wallet address 1LdRcdxfbSnmCYYNdeYpUnztiYzVfBEQeC | Source: Bitinfocharts
No BTC has been withdrawn since the address received its last deposit of 53,880 BTC on May 28, 2023. However, the wallet receives a small amount of Bitcoin a few times per month, suggesting its owner uses BTC to earn passive income. Deposits likely occur automatically.
It is unknown whether the original owner of 1LdRcdxfbSnmCYYNdeYpUnztiYzVfBEQeC still has access to their Bitcoin since they have been inactive for nine years.
Fourth-Largest Whale Dormant

The penultimate wallet, 1AC4fMwgY8j9onSbXEWeH6Zan8QGMSdmtA, ranks 13th on Bitinfocharts and has the following characteristics:
Balance: 51,830 BTC ($1.7 billion)
Date of first Bitcoin receipt: Jan. 1, 2018
Date of last Bitcoin receipt: May 25, 2023
Activity at wallet address 1AC4fMwgY8j9onSbXEWeH6Zan8QGMSdmtA | Source: Bitinfocharts
Most of the address’ Bitcoin was deposited on Jan. 7, 2018, after Bitcoin reached a then all-time high of $20,000. The last activity was recorded on March 17, 2023, when the whale received 0.03 BTC.
The large initial deposit earning smaller revenues suggests the address owner uses his holdings to earn passive income. Given the lack of withdrawals and apparent inactivity for around five years, there is no certainty that the owner has retained access to his coins.
Read more: 9 Crypto Wallet Security Tips To Safeguard Your Assets
Fifth-Largest Inactive for 4 Years
The last wallet, at address 1LruNZjwamWJXThX2Y8C2d47QqhAkkc5os, is listed 14th on Bitinfocharts. This wallet’s activity can be summarized as follows:
Balance: 44,000 BTC ($1.5 billion)
Date of first receipt of Bitcoins: Nov. 11, 2019
Date of last receipt of Bitcoins: April 23, 2023

Activity at wallet address 1LruNZjwamWJXThX2Y8C2d47QqhAkkc5os | Source: bitinfocharts
The wallet received an initial deposit on Nov. 24, 2019, and has since received small deposits that appear to be automatic. Therefore, this whale also appears to be using his coins for passive earnings. As with other whales, it cannot be assumed that the original owner of 1LruNZjwamWJXThX2Y8C2d47QqhAkkc5os owner still has access to the Bitcoin located there.
Four of the five largest Bitcoin whale addresses appear abandoned, considering the lack of withdrawals and general market activity over several years. As a result, there is a chance that their original owners have lost access to their private keys that allow them to spend funds. 
Read more: What is a Private Key in Crypto?
The second whale replenished their wallet during the crypto winter after Bitcoin reached $68,000. They last deposited funds on Sept. 30, 2023, when BTC was trading near $26,000.
Activity from whales can be used to inform crypto investment decisions.
Do you have something to say about how BTC whales play the market, how they earn passive income, or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Recommended For You