The post Bitcoin and Ether Whales on the Move; Bitcoin Whale Buys $200M in BTC appeared first on Coinpedia Fintech News
A major Bitcoin whale has made a significant move, adding $200 million worth of Bitcoin to its holdings after selling over 11,400 BTC in recent months. This comes as Bitcoin experiences a rebound in price.
Despite some sales in February, the whale now holds over 15,000 BTC, valued at more than $1.3 billion. The whale started buying Bitcoin again after selling some when its price was between $100,000 and $86,000 in February. Bitcoin’s price was over $104,000 on February 1 but fell to around $78,940 by February 28.
Bitcoin has seen significant price fluctuations recently. Over the past week, it has been trading between $81,000 and $88,000. On March 24, it experienced a 3% surge, pushing its value further away from the $76,900 low it hit on March 11.
Another Whale Moves 3000 BTC
At the same time, another Bitcoin whale has reawakened after eight years of inactivity, moving over 3,000 Bitcoin, valued at $250 million, in a single transaction on March 22.
Arkham Intelligence revealed in a post that the Bitcoin whale’s holdings have grown significantly, from a modest $3 million in early 2017 to a massive $250 million today. This stack of Bitcoin has been held in a single address for over eight years.
BlackRock Stacks Up More BTC
BlackRock, the world’s largest asset manager with approximately $11.6 trillion in assets, has been accumulating Bitcoin over the past week, according to Arkham Intelligence. The firm purchased 4,054 additional Bitcoin across 15 transactions, bringing its total holdings to 573,878 Bitcoin, worth over $50 billion, according to Bitbo’s Bitcoin treasury tracker.
Additionally, BlackRock’s iShares Bitcoin Trust (IBIT) led a surge in Bitcoin spot ETFs in the U.S., reversing a five-week streak of outflows with a net inflow of $744.4 million. The majority of this came from BlackRock’s iShares, which brought in $537.5 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $136.5 million.
Ether Whales Also Show Activity
An Ether whale added 7,074 ETH, worth $13.8 million, to their holdings on March 21. Ether’s price has being trading 57% lower than its peak in November 2021, trading between $1,876 and $2,097. Despite this, Ether’s open interest reached a new all-time high, and the number of addresses holding at least $100,000 in Ether has been steadily increasing.
