Major Bitcoin investors, often referred to as “whales”, have been increasing their Bitcoin investments leading into the Easter weekend. Analysts anticipate a somewhat steady period for crypto prices, taking a breather after two weeks of intense volatility due to global trade tensions. A prime example is London-based Abraxas Capital, which has bought 2,949 Bitcoin – or over $250 million – within the four days ending on April 19th.
In its most recent transaction, Abraxas Capital purchased over $45M in Bitcoin via Binance. This data was discovered and shared by Lookonchain, who source their reports from Arkham Intelligence data. Notably, the purchase happened not long after Michael Saylor’s Strategy bought $285 million worth of Bitcoin. This concurrent activity from two of the biggest Bitcoin corporate holders signifies sustained faith in the future of Bitcoin, in spite of looming uncertainties in global tariffs.
While Bitcoin whales are accumulating, there have been sizable movements from the medium-term Bitcoin faction, those who hold their coins for three to six months. This has raised concerns about possible fluctuations, as these deviations could indicate an instability within the market. However, as there are fewer onchain movements of coins during weekends, and the long Easter weekend closed US markets, any volatility could be subdued, barring significant official announcements.
However disconcerting high movement might be, it might not always point to impending selling pressure. As Marcin Kazmierczak, COO of RedStone Oracles, stated, these movements could simply be operational transfers. The market has shown cause for concern about weekend volatility, such as the Mantra token’s price drop to less than 90% on Sunday, April 13.
In essence, the crypto industry could be riding out more serene waters during the Easter weekend. However, investors are continually on guard for large whale movements and revising strategies to navigate any sudden ripples in the market.