Bitcoin whales are back in action as the cryptocurrency rebounds, with a surge in high-value transactions and long-dormant wallets springing to life.<\/p>\n\n\n\n
One major Bitcoin whale has re-entered the market, adding 2,400 BTC \u2014 valued at over $200 million \u2014 to their holdings on March 24, according to blockchain analytics firm Arkham Intelligence. This move comes after the whale sold more than 11,400 BTC earlier this year.<\/p>\n\n\n\n
Despite the February sell-off, the whale\u2019s wallet now holds over 15,000 BTC, worth approximately $1.3 billion at current prices.<\/p>\n\n\n\n
\u201cA $1 billion Bitcoin Whale just withdrew $200 million of Bitcoin this morning from Binance,\u201d Arkham noted in a post on X.<\/p>\n\n\n\n
The whale began buying again five days ago, right as Bitcoin rebounded from its February dip, when the cryptocurrency dropped from over $104,000 on February 1 to $78,940 by February 28, according to CoinGecko data.<\/p>\n\n\n\n
In another notable development, a long-inactive Bitcoin whale moved more than 3,000 BTC \u2014 valued at roughly $250 million \u2014 in a single transaction on March 22. Arkham Intelligence reported the wallet had held onto this stash since early 2017, when it was worth just $3 million.<\/p>\n\n\n\n
\u201cThat\u2019s over $247 million in unrealized gains, held in one address for more than eight years,\u201d Arkham wrote.<\/p>\n\n\n\n
Institutional interest is rising too. BlackRock, the world\u2019s largest asset manager with $11.6 trillion in assets, has quietly accumulated an additional 4,054 BTC over the past week across 15 transactions, bringing its total to 573,878 BTC \u2014 now worth more than $50 billion.<\/p>\n\n\n\n
BlackRock\u2019s iShares Bitcoin Trust (IBIT) led a resurgence among spot Bitcoin ETFs in the U.S., snapping a five-week streak of net outflows. The fund pulled in $744.4 million in net inflows last week, including:<\/p>\n\n\n\n
It\u2019s not just Bitcoin that\u2019s seeing action. Lookonchain reported that an Ether whale added 7,074 ETH \u2014 worth about $13.8 million \u2014 to their holdings on March 21. Ethereum has traded between $1,876 and $2,097 in the last seven days.<\/p>\n\n\n\n
While ETH is still down over 57% from its all-time high of $4,878, open interest hit a new all-time high on March 21. The number of wallets holding at least $100,000 in ETH has also surged, rising from just over 70,000 on March 10 to over 75,000 by March 22.<\/p>\n\n\n\n
With whales, institutions, and retail investors all diving back in, the crypto market appears to be gaining momentum once again.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin whales are back in action as the cryptocurrency rebounds, with a surge in high-value transactions and long-dormant wallets springing to life. Whale Snaps Up $200M in BTC After February Sell-Off One major Bitcoin whale has re-entered the market, adding 2,400 BTC \u2014 valued at over $200 million \u2014 to their holdings on March 24, […]<\/p>\n","protected":false},"author":6,"featured_media":5656,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,258,2,43],"tags":[],"class_list":{"0":"post-14007","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-ethereum","9":"category-featured","10":"category-general-news"},"acf":[],"yoast_head":"\n