Bitcoin Whale Activity & Market Trends

Bitcoin Whale Activity and Market Rebound

Recent activity from significant Bitcoin holders, or "whales," has sent ripples through the market. A notable whale added 2,400 BTC (over $200 million) to its holdings on March 24th, according to Arkham Intelligence, following previous sales in February. This whale now holds over 15,000 BTC, valued at over $1.3 billion.

This purchase follows a period of Bitcoin price decline from $104,000 on February 1st to a low of $78,940 on February 28th. The recent rebound, with BTC trading between $81,000 and $88,000 in the past week, may have influenced this large purchase.

An Eight-Year Slumber Ends

Simultaneously, another Bitcoin whale awoke after eight years of inactivity, moving over 3,000 BTC ($250 million) in a single transaction on March 22nd. This highlights the long-term holding strategy some investors employ.

Institutional Accumulation Continues

BlackRock, the world's largest asset manager, continues its Bitcoin accumulation, purchasing an additional 4,054 BTC last week, bringing its total holdings to over 573,878 BTC ($50 billion). This significant investment, coupled with $744.4 million in net inflows into spot Bitcoin ETFs (with BlackRock's iShares contributing $537.5 million), indicates strong institutional confidence.

Ethereum Whale Activity

The activity wasn't limited to Bitcoin. A single Ethereum whale added 7,074 ETH ($13.8 million) on March 21st, according to Lookonchain, highlighting broader market interest in altcoins. Ethereum's open interest reached an all-time high on March 21st, and the number of addresses holding at least $100,000 worth of ETH is also increasing.

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