Thread by @OnchainDataNerd

A lot of people are analyzing #Ethereum whales for 'alpha'.

Here I share one gaining over $40M on the #BTC network.

Let's analyze his trade + ways to spot $BTC Smart Trader🧵

1/

Overall, he did 4 trades since 2020.

Among those, 3 were in profit while 1 is in loss (though the loss was a much smaller trade)

In total, it made $40M.

2/

The first time it received $BTC was in May 2020 when $BTC was around $8K.

After holding for 18 months, it sold at the peak of $65K.

Profit: $40M (700%)

3/

Then, since the FTX incident, he made 2 large trades.

Both had good entry timing:

• Bought the bottom of $16K - Sold at $24K
• Re-bought at $22K - Sold at $27K

Profit: $5M (40%)

4/

Could this be just transferring to a new wallet?

Not unlikely, though the timing is precise so it can still give insights.

Could also be OTC buying/selling (common for Whales)

5/

So how can I spot this wallet?

Using the filter from @ArkhamIntel, I looked for $BTC transactions over $10M.

This is a daily habit for me now to check whale movements, especially in/out of exchanges.

6/

It can be difficult to read $BTC transactions due to the UTXO mechanics.

Thus, I suggest using Bitinfochart for clear visualization and entry/exit price.

Look for those above $1M in profit and multiple trades (usually above 10 txs).

6/

Once you found the Smart Trader, use the Arkham alert to monitor its movements.

Remember to filter for txs value (depending on the wallet size) to avoid noise.

It is pretty simple if you give it a go.

7/

Finding one Smart Whale on #bitcoin can be difficult, but can be very rewarding.

You can check their activities to have a sense of the market's future directions.

The concept is not so different from those on Ethereum.

8/

Here is the address: 3LDofGXvcqQecqyqqMZnqdXbHoHbf6udqC

Would love to hear your feedback/thoughts below.

Like/Retweet the first tweet below to support my work: