Bitcoin whales are shaking things up in the crypto deep, and it looks like they’re ready to make some serious waves. Over the past seven days, Bitcoin has surged over 4%, and these digital titans are cashing in on the rebound with jaw-dropping moves. Prepare for a whale tale of epic proportions.

The $200M Whale Strikes

In a bold move, a massive Bitcoin whale recently added a whopping 2,400 BTC—worth over $200 million at current prices—to its stash on March 24. According to blockchain analytics firm Arkham Intelligence, this big move came after the whale had been offloading more than $11,400 BTC over the past few months during a period when Bitcoin’s price fluctuated between $86,000 and $100,000 in February. Despite the previous sell-offs, the whale's recent purchase has boosted its total holdings to over $15,000 BTC, now valued at more than $1.3 billion. “A 1 billion Bitcoin whale just withdrew 200 million of Bitcoin this morning from Binance,” Arkham declared on X (formerly Twitter), proving that when whales move, the market listens.

The Sleeper Awakens

Not to be outdone by its high-rolling counterpart, another Bitcoin whale decided it was time to rise from an 8-year slumber. On March 22, this dormant whale roused itself by transferring over 3,000 BTC, now worth about $250 million in a single striking transaction. Arkham Intelligence highlighted the resurgence proudly, noting, “His Bitcoin stack went from $3M in early 2017 to over $250M today—and he’s held Bitcoin on one address for over 8 years.” Talk about a comeback!

BlackRock Joins the Party

It’s not just the independent whales making headlines; institutional juggernauts are in on the action too. BlackRock, the world’s largest asset manager boasting approximately $11.6 trillion in assets under management, has been steadily beefing up its Bitcoin portfolio. Over the last week, BlackRock snapped up an extra $4,054 BTC across 15 transactions, pushing its total Bitcoin holdings to an eye-popping $573,878 BTC—a stash valued at over $50 billion based on current market prices. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) led a rally among spot Bitcoin ETFs in the US, breaking a five-week net outflow streak by logging a net inflow of $744.4 million. The majority of that influx came from iShares with $537.5 million, closely followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $136.5 million. Clearly, BlackRock is casting a long shadow over the market, showing that institutional giants aren’t afraid to get their hands dirty in the crypto arena.

Ether – Not to Be Forgotten

While the focus has been squarely on Bitcoin, the action isn’t confined to just the king of crypto. A lone Ether whale also made waves on March 21 by adding a staggering 7,074 ETH (valued at roughly $2,056 per Ether) to its portfolio, which translates to about $13.8 million. Ether's price, fluctuating between $1,876 and $2,097 over the past week (according to CoinGecko), still reflects the challenges of a market that’s down over 57% from its historic peak of $4,878 back in November 2021. Yet, signs are positive: Ether’s open interest reached a new all-time high on March 21, and the number of addresses holding at least $100,000 in ETH increased from just over 70,000 on March 10 to more than 75,000 on March 22.

A Market in Motion

All these maneuvers come at a time of significant price recovery. Bitcoin has been trading robustly between $81,000 and $88,000 in the last week, with a notable rally pushing prices up by 3% on March 24. This surge is a far cry from its low of around $76,900 seen on March 11, and it underscores the dynamic nature of the digital asset market.

In the wild, unpredictable world of crypto, these whale movements provide both a signal and a spectacle. Whether it’s a massive whale adding $200 million in BTC or another twitching from years of dormancy to make a $250 million statement, the market is abuzz with excitement. And with institutional titans like BlackRock joining the fray, it’s clear that the era of unicorn-sized Bitcoin moves is far from over.

Stay tuned, as the crypto sea remains deep, choppy, and full of surprises.

How a Single Whale Impacted Bitcoin’s Price | HODL FM
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