Rich addresses aren't necessarily those that make the biggest impact on the price.
I expressed my thoughts here (so I agree with you)
- Whales can do different if they want to take profit: take profit with young UTXOs rather than oldest ones.
- I believe they try to reserve their old UTXOs for price manipulation at right time of market
- I mean, if one whale enriches 1000 BTC to 2000 BTC, 200 or 500 oldest BTC will be reserved for that purpose. Whales are able to enrich total BTC they have and they don't have to move old UTXOs just to take profit
From what I've seen, some of these belong to exchanges, for instance, so they're not showing where someone very rich is hodling BTC. There are also very rich addresses which, however, don't show much movement over the years. This might be money someone forgot about or lost access to, so this also doesn't affect the market.
There are assumptions of forever lost bitcoin from years-inactive UTXOs but we never know the exact amount. The follow-up rich list help us to see changes that are matters. LoyceV pointed out that it can be coincidence only and I believe what we see is not enough to make any valid causal inference.
Also, when someone wants to make a very big buy/sell operations, they're not done on exchanges, but rather OTC, so they also don't affect the prices. Finally, there are those who have a lot of BTC, but the coins are dispersed, so that they are not under anyone's attention (for example, Tesla's coins exist, but the addresses are unknown).
Not correct. You misunderstood the reasons to observe movements from the public ledger. Big movements can imply something (or maybe not at all) and sometimes we don't really need to know who stays behind such movement.
Big movements first, news will be released later, that's it.
I think that instead of following the dynamics of the rich addresses, it's more useful to just follow the news because nothing triggers the price changes more than FUD or hype in the media.
Big movements or movements from old UTXOs are used to create news.
The Bitcoin Rich List, as others have pointed out, is misleading since anyone can (and should) hold their funds in multiple addresses.
Everything can be used if we take what we need and leave what we don't.
About exchange flows, I know one website so go checking it and enjoy.
- Viewbase.com
- I like it because you don't have to create any account to view chart or see details.
- Limitation: data is for 30 days in maximum (with 3 options: 1D, 7D and 30D)
- This limitation can provide small work if you want to track and have bigger data.
